Bar group Loungers is to open its first Cosy Club in the north-east in 2018 after securing a site at The Riverwalk in Durham.
Combining drinking and casual dining, the concept will be set into a 5,300 sq ft first-floor site, taken on a 15-year lease, at the former Gates retail and leisure complex that is undergoing a £30million redevelopment.
The Riverwalk (pictured) will have 35,000 square feet of drinking and dining space including Caribbean restaurant and bar Turtle Bay and Handmade Burger Co as well as a six-screen Odeon cinema. The project is being carried out by a fund managed by Clearbell Capital.
Loungers property director Raj Manek said: “Having started out in Bristol in 2002, our growth strategy will see us continue to open over 20 new restaurants a year in locations across the length and breadth of the UK.”
As well as its core Lounge bar brand, Loungers operates 19 sites as The Cosy Club, stretching beyond its south-west heartland to Manchester, York and Liverpool, with the 20th due to open in Lincoln later this year.
Nick Berry, partner at Clearbell Capital, added: “Welcoming both Turtle Bay and Cosy Club to The Riverwalk will allow us to expand our retail and leisure offering in Durham city centre and complement our diverse tenant mix.
“This is an exciting time for Durham as we continue to work on creating a truly mixed-use centre that will cultivate the local Durham economy and deliver improvements to the city’s day and night-time offering.”
The Other Retail Group is providing asset management and development advice for The Riverwalk. Cushman & Wakefield is the restaurant and leisure leasing agent for The Riverwalk. Insight Retail acted for Loungers while Jackson Criss acted for Turtle Bay.