Olive press restaurant up for grabs as agents appointed
City centre restaurants The Olive Press and Heathcote’s Brasserie are now on the market with specialist business advisors, Christie & Co.
Next to the historic parks of Winckley Square and Avernham Park, which has recently had £9million spent on it as part of The English Heritage Grant, the Olive Press was opened in Preston in 1995 by current owner and celebrity chef Paul Heathcote MBE and has since been a favourite for a number of stars including singer Rod Stewart, Rugby World Cup winner Jason Robinson, football manager David Moyes, DJ Fat Boy Slim and Coronation Street star Helen Worth. After 20 years of successful trading, the chef has now decided to focus on other projects.
Renowned for its high-end cuisine, The Italian restaurant has won various awards including 2 rosettes, Independent Restaurant of the Year and BIB Gourmand Star.
The restaurant occupies the ground and lower ground floor of an elegant four storey mid-terrace Victorian building of mainly brick construction, overlooking the picturesque gardens of Winckley Square, and provides seating for 200 customers. The Square itself is due to undergo a renovation worth circa £1m over 2016.
The owner is proud of the restaurant’s achievements and the people employed there past and present, and intends to transfer the current members of staff over to the eventual purchaser or offer alternative positions within Heathcote’s other restaurants.
Tom O' Malley of Christie & Co’s Manchester Office is handling the sale. Tom commented: “This establishment represents good value for money in the current market. As this is a restaurant with 20 years of trading history in a growing City and a reputation known nationally we are expecting a lot of interest from both existing operators who want to raise their profile in the north west and from first-time buyers who are looking to enter the market.”
Christie & Co is seeking £250,000 for the leasehold interest in the restaurant.
