A popular Newcastle city centre restaurant has moved into a new location following a deal with a real estate company.
Simply Greek had been serving a steady stream of regular customers and visitors to the region for more than 40 years from its base at 2-4 Bigg Market at its junction with High Bridge. Now, having traded from the basement tavern since 1979, the eatery has signed a 10-year letting at Cathedral Square, with Monument Real Estate.
Following a brief hiatus while work was carried out at the new premises, the family business has now reopened on the ground floor of the property’s prominent north east corner, which was formerly occupied by betting chain Ladbrokes. The move signals a significant period of growth for the company, which is celebrating with a new menu and plans to strengthen its 11-strong team in 2023.
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Director at Simply Greek, Karl Stafford, said: “We’ve always focused on traditional Greek cuisine as we know our customers love to enjoy dishes they’ve discovered on their holidays, so we’ve freshened things up to include a Greek buffet with a range of authentic dishes directly from Greece. A variety of daily specials, breads and desserts will showcase the cuisine of regions such as Skiathos and Santorini, and we can’t wait to welcome familiar and new customers alike.”
Tariq Albassam, director of operations at NE1 Ltd, the organisation that championed the redevelopment of the Bigg Market, said: “This is great news for Cathedral Square and for the Bigg Market, and reinforces NE1’s original vision for the area. There are a lot of exciting things happening as the area continues its transformation with new occupants and restaurant openings.
“It is great to see Simply Greek expanding into a bigger and more prominent premises. The restaurant fits well with other leisure operators in the area, helping to cement the Bigg Market’s growing reputation as a vibrant centre for quality restaurants and bars.”
Monument Real Estate, which manages projects across the UK and also has an office in Leeds, offers asset management and structured finance services for commercial property investors and developers. The company recently bought the Gosforth Shopping Centre in a deal backed by a consortium of investors.
Tom Wooldridge, executive director and founder of Monument, which last year led the acquisition of Cathedral Square with the backing of private equity and local investors, added: “This letting is another great example of our work to invest in this historic part of the centre of Newcastle, which is undergoing a fantastic period of redevelopment right now.
“Earlier this year, we secured consent to create 35 residential flats in the vacant offices at number 2 Cathedral Square and we’re working hard at the moment to gain consent to alter the building’s design as part of this commitment.”
Commercial property consultant Reid Birkett and law firm Muckle LLP acted on behalf of Monument in the letting, whilst Pearson Caulfield represented Simply Greek.
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