The owner of the Real Greek and Franco Manca restaurant chains on Tuesday said tenants now have the upper hand in negotiations with landlords thanks to carnage on the High Street.
Fulham Shore’s chairman David Page predicted building owners would offer more rent cuts as they try to fill space left vacant as retailers close sites as consumer confidence falls and costs rise.
Page said property agents — who typically align with landlords’ interests — “should realise the boot is now firmly on the other foot”.
His firm is looking to open up to 10 more branches in the year to March 2020.
Fulham Shore revenues rose 17% to £64 million in the year to March 2019. It made a pretax profit of £1.4 million, compared with a £100,000 loss last time.
Matt Butlin at housebroker Allenby Capital said: “In a period when the vast majority of news flow from the casual dining sector has been negative, today’s results from Fulham Shore provided a much needed injection of positivity.”
