Press releases

Five Guys, Bella Italia and Prezzo to open at L&G's Ashton Leisure Park.

28 November 2014

Legal & General Property (LGP) announces that works have started on site on the development of 10,750 sq ft of new restaurant space at Ashton Leisure Park, bringing up to 120 new permanent jobs to the local area.

Due to reach practical completion in March 2015, the new retail parade will be handed over to popular restaurant chains, Five Guys, Bella Italia and Prezzo, so that they can open their doors to the public in late Spring. Creating up to 120 additional permanent jobs (comprising both full time and flexible working opportunities) once complete, the development is also employing up to 100 workers in the five month construction period.

Taking 15 year leases at the park, the popular, family-orientated restaurant groups are due to significantly increase the range of eating options available in the Ashton-under-Lyne area. Due to occupy a newly created, triple-unit catering terrace, Five Guys has taken a pre-let on 3,500 sq ft, while Bella Italia will take 4,000 sq ft and Prezzo will take 3,250 sq ft.

As part of the extension, the car parking space has also been reconfigured, extended and improved, adding a further 77 spaces in total. Looking to enhance the sustainability credentials of the park, PV panels will also cover the roof space above the new restaurant units, powering around 10% of their overall energy.

Situated just east of Manchester, Ashton Leisure Park currently comprises a IMAX Cineworld cinema, a Hollywood Bowl bowling alley and five restaurants, including Chiquito, Nando’s, Frankie and Benny’s, Eat Inn Chinese Buffet and a Harvester pub.

Craig Westmacott, Senior Fund Manager at Legal & General Property, commented: “We look forward to completing the development of three exciting new restaurant units at Ashton Leisure Park. Bella Italia, Prezzo and Five Guys are all established restaurateurs which will complement and extend the family-orientated eating options on offer at this popular Leisure Park. The new units will also create up to 120 jobs for the local economy and, with building work now on site, we look forward to seeing the units trading by Summer 2015.”

Notes to editors

Legal & General Property (LGP) is a wholly-owned subsidiary of Legal & General Investment Management (LGIM), one of Europe’s largest institutional asset managers and a major global investor. LGIM manages approximately £476.8bn in assets on behalf of over 3,100 clients (30 June 2014) and provides products and solutions spanning all asset classes. LGP is the third largest institutional property fund manager in the UK, managing or co-managing 17 separate funds or vehicles including three segregated mandates with an aggregate asset value of £14.5bn as at 30 October 2014. These funds include:

Balanced Funds
Life Fund; Linked Pensions; Linked Life; Managed Fund; Legal & General UK Property Fund; UK Property Income Fund I; UK Property Income Fund II; LPI Income Property Fund and the Hybrid Property Fund

Specialist Pooled Funds
The Leisure Fund Limited Partnership; Industrial Property Investment Fund; Arlington Business Parks Partnership; and the English Cities Fund

Single Asset Vehicles
Bracknell Regeneration Partnership; Central Saint Giles Partnership

LGP’s UK-focused fund management platform has built and retained a strong track record of out-performance. Owing to its size, diversity and penetration, it benefits from best-in-class banking and property contacts which, along with its wealth of in-house skill and expertise, have enabled it to continue to attract and secure high quality market opportunities.

Taking a client-centric approach, the business places the highest priority upon integrity and transparency, leveraging the significant resources provided by the wider LGIM platform. Protecting the medium to long term value of its portfolio, as a leader in sustainability, green principles are embedded into every property and investment decision.

Sector specialists cover each sphere of the market and are supported by LGP’s market-leading research capability. In particular, the Company has a major development platform, responsible for delivering community-focused projects ranging from West End landmark buildings to significant town-centre retail and leisure regeneration schemes.

Forming part of the Group’s larger UK housing and infrastructure investment strategy, LGP also continues to participate in a growing range of supply side housing activities, including financing affordable homes, the house building sector, urban regeneration, student accommodation and care homes.

For more information please contact:

Olivia Goodall
PR Manager, Legal & General Capital and Real Assets, LGIM (Property, infrastructure and alternative finance)

t: + 44 (0) 203 124 2777
m: + 44 (0) 7718 395 279

About Legal & General

Legal & General Property Limited.

Registered address:
One Coleman Street
London EC2R 5AA.
Registered in England 2091897.