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23 May, 2019 - 17:19 By Kate Sweeney

Over £300k sought for leasehold of Jamie Oliver’s Cambridge restaurant

Jamie's Italian Restaurant

Offers in excess of £300,000 are being invited for the leasehold of Jamie Oliver’s Italian restaurant in Cambridge.

Christie & Co has been appointed by administrator KPMG to advise on the sale of the entire Jamie Oliver Restaurant Group portfolio after the financial collapse of the chain, which had run up a total debt of £75.1m.

A Jamie’s Italian Restaurant with square footage of 7,400, current rent of £200k and rateable value of £135k is based at The Old Library in Cambridge’s Wheeler Street. A rent review is due in mid-October.

Will Wright and Mark Orton from KPMG’s Restructuring practice have been appointed joint administrators to the stricken group in its entirety.

Specialist business property adviser, Christie & Co is marketing the leasehold portfolio, comprising 20 sites.

Eight sites occupy strong trading positions throughout Central and Greater London. Twelve are situated in prime locations across the UK.

Jamie Harvie-Austin, director at Christie & Co said: “Christie & Co is delighted to have been appointed by KPMG to assist in the disposal of these restaurants as this provides a rare opportunity for restaurant operators to acquire extremely well-located premises in city centre locations.”

The sites are available on a group, sub group or individual basis and Christie & Co expects to receive strong interest over the next week with best bids due by Thursday May 30.

Interest in the sites should be directed to Jamie Harvie-Austin at Jamie.Harvie-Austin [at] christie.com or 0207 227 0769 or Simon Chaplin at Simon.Chaplin [at] christie.com or 020 7227 0761.

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