Leicester city centre restaurant changes hands
A Leicester restaurant has been sold to a fast-expanding group.
Koban Group is adding 1573 Bar & Grill to portfolio in a deal brokered for an undisclosed sum.
The multi award-winning restaurant, first opened in 2009, is located in the city centre in the external complex of Highcross Shopping Centre and is set in one of the oldest school buildings in England, The Old (Free) Grammar School built in 1573.
The deal follows Koban’s acquisition of The Lansdowne and Fenways from The Orange Tree group.
Raghu Kodakandala, co-owner of the Koban Group said; “This is an exciting investment for us and having established restaurants across Leicestershire for a number of years now, it is an honour to obtain one of the city’s finest establishments, bringing our total number of restaurants to five. We’re looking forward to working with the team at the restaurant and building on their successes to date”.
“In a time of uncertainty and the homogenisation of the High Street, we are committed to Leicestershire by investing locally, employing locally and using the finest local suppliers”, he added.
Koban Group, which was founded by Raghu Kodakandala and Dr.Bandrapalli, also operates the White Peacock on New Walk, Leicester and the Indian fine dining restaurant, Aspects, in Enderby.