Pubs are closing at the rate of 25 per week, as the trade continues to face tough conditions in all parts of Britain, according to new figures released this week by the British Beer and Pub Association.*
So it came as good news in late December 2010 when owners of the Milestone announced that they would be opening a second restaurant, Wig & Pen by The Milestone, in the Cathedral Quarter on Campo Lane.
Sheffield solicitors Wake Smith & Tofields acted on behalf of the landlords Shrewsbury Hospital Trust, working with city based chartered surveyors Fowler Sandford, to complete the deal. The new premises, which launched at the end of January provides a city centre venue in the heart of the business community.
Damien Donnelly, Partner in the Commercial Property team at Wake Smith & Tofields said: "The Milestone has been a firm favourite for many people in the region and thanks to the recent publicity from Gordon Ramsay and the restaurant's excellent performance in the TV programme 'Ramsay's Best Restaurant 2010' I am confident that they will continue to grow in size and reputation from their new premises located in Paradise Square / Campo Lane. It was important for all involved, for the transaction to proceed with speed despite obstacles which had to be overcome.
"It is with delight that in acting for the landlord - Shrewsbury Hospital Trust - a lease was completed with The Milestone, an important key anchor tenant who it is hoped will attract vibrancy and other tenants to the historic Sheffield location of Paradise Square and its surrounding area. With a number of licensed premises closing on a weekly basis The Milestone is a success story which will no doubt continue with its excellent choice of a well known established premise The Wig and Pen."
Marc Sheldon, co-owner of The Milestone and Wig & Pen by The Milestone said: "The last four years have been amazing for us and we really appreciate the support of our regular customers and the Sheffield community. We have already settled in at Campo Lane and feel right at home in our new premises".
"We wanted to expand the business and the Wig & Pen was the perfect venture. The premises allow us to create a new flexible venue to offer all day dining, meeting rooms, hospitality for private parties and events, plus private dining. Head Chef Simon Ayres and his team have also relished creating a more contemporary menu."
Nick Robinson of Fowler Sandford said "The Trust had worked very closely with the original promoters of the Wig & Pen and was saddened at the sudden closure of the restaurant. Working with Damien Donnelly we were able to move quickly to secure the premises and talk to a number of interested parties. The people from the Milestone rose to the challenge and were able to complete the transaction quickly. Paradise Square remains the best office address in Sheffield and can now boast it has one of the best bars and restaurants in town."
*Source: www.beerandpub.com/newsList_detail.aspx?newsId=393
Pub closures by ITV region:
TV region net closures % change per week
Anglia -137 -2.9% -3
Central -146 -1.6% -3
Granada -169 -2.1% -3
Harlech -60 -1.7% -1
London -276 -2.9% -5
Meridian -48 -0.9% -1
Scotland -133 -2.5% -3
Tyne Tees -72 -2.5% -1
South West-105 -1.9% -2
Yorkshire -129 -2.1% -2
TOTAL -1,275 -2.1% -25
