Five Guys opens sites across L&G properties

Legal & General Investment Management Real Assets (L&G) has secured US burger restaurant chain Five Guys for five sites across its UK real estate portfolio of retail and leisure properties.

Five Guys has opened units at Valley Centertainment in Sheffield, Overgate shopping centre in Dundee and Ashton leisure park in Ashton-under-Lyne, representing a total of around 10,000 sq ft of space.

L&G has also secured further lease agreements at Meridian leisure park in Leicester and on a 3,938-sq ft unit in Aberdeen, located in the prime pitch on St Nicholas Street between the Bon Accord Centre and Union Street. The restaurants are due to open in the last quarter of 2016. L&G opened its first Five Guys on Friary Street, Guildford in 2015.

The openings in Dundee, Ashton-under-Lyne and Sheffield mark significant additions to the individual existing retail and leisure offers, broadening the choice for customers, providing a new experience and helping to raise the tone at each site. In Ashton-under-Lyne, L&G welcomes Five Guys as one of three operators that were previously pre-let at the leisure park, further diversifying the tenant line-up and food offering.

Andrew Ferguson, fund manager at L&G, said, “Welcoming Five Guys to a range of L&G’s leisure sites demonstrates the strength of our leisure portfolio and the ability of our assets to attract and work closely with leading operators.

'Three of the new sites are already trading well and have collectively raised the tone of their schemes to great effect. We continue to see huge demand for a diverse and high-quality food and drink offer throughout the leisure sector.”