Initiative helps operators get a step on the ladder

Initiative helps operators get a step on the ladder

Residency, an initiative to pair vacant restaurant venues with emerging chefs, restaurateurs and food and drink concepts, is launching in London this month.

The idea is a partnership from restaurant property consultancy Distrkt and restaurant experts Montana Fogg.

It will offer a solution to London’s surge in empty restaurant units and the restrictions posed by high rents and business rates, which makes opening new ventures a widespread challenge.

Residency will give budding operators the chance to bring their hospitality concepts to life, and to trial them in ready-made, bricks-and-mortar restaurant sites. At the same time, landlords will benefit from additional revenue and increased footfall, as they await a permanent resident.

Camilla Topham and Michael Webb, founders of Distrkt, have teamed up with Sebastian Fogg, Laura Montana and Ed Wyand of Montana Fogg, to draw on their shared knowledge of restaurant real estate and the capital’s dining culture. Collectively they will seek out operators with the offer to showcase their concepts in temporary sites, as well as accepting incoming applicants. The Residency team will manage each project from start to finish.

Collaborating in 2019, the consultancies have already acted for The Crown Estate in placing both David Carter’s Manteca and Shaun Presland’s Pacific, both of which carried out successful residencies at 10 Heddon Street. They will bring a third hospitality concept to the site in the spring.