Graves Son & Pilcher – Pizzeria secures prime city centre location to expand chain of restaurants
Graves Son & Pilcher (GS&P) successfully agreed and completed a new tenancy to Pizza Pilgrims late last year at 35 Ship Street in Brighton.
The property is centrally located, directly opposite The Ivy and The Ivy Asia restaurants, close to The Lanes (a maze of narrow alleyways and hidden squares, known for antique jewellers and independent traders) and Brighton’s main shopping thoroughfares. The property was previously occupied by Steamer Trading, and subsequently ProCook, who used the accommodation as retail showrooms. Believed to be constructed circa 1920s, the three-storey building has a modern, open plan interior with glazed staircases and a central glass roof. Strong demand was received from the market which included restaurant groups, estate agency businesses, retail operators and coffee shops.
35 Ship Street – before photo
35 Ship Street – after photo
Graves Son & Pilcher acted on behalf of the Reverend Frederick W Robertson Trust and, with an asking rent of £85,000pax on new lease terms, successfully achieved a headline rent of £102,500pax. Terms were agreed on a 20 year lease with reviews at every fifth anniversary. This equates to an ITZA of £81.09. GS&P also negotiated dilapidation clauses with the previous tenants and continue to manage the building.
You can see all of Graves Son & Pilcher’s available properties on NovaLoca here.
