£500,000 Japanese eatery for Exchange Flags

A £500,000 Japanese Teppanyaki restaurant is on the menu for Liverpool diners.

Sakura, which already has a site in Preston has signed up for a 6,200sq foot unit at Exchange Flags.

Sakura is the first restaurant operator to sign up for the development, a joint venture between UK Land and Property and Pochin Developments.

The restaurant is undergoing a £500,000 fit out and, when complete in January, will offer external seating and decking overlooking Exchange Flags square.

Meanwhile newsagents, Exchange News has signed for a 500sqft of retail accommodation on a 10-year lease.

Ian Sherry, development director at UK Land & Property commented: “We wanted to find an operator that shared our vision and delivered the quality to match the existing offer at the Flags.

“As Sakura is an independent restaurant, the offer will not only be of a high quality, but also unique to the area. Exchange News will also take advantage of the high footfall at the Flags and compliment existing operators Coffee Republic and Philpotts.”

David McDermott, owner of Sakura added: “Exchange Flags is an impressive backdrop for our restaurant. Our aim is to create a European feel to the Flags by setting up external decking area with windbreakers and state of the art heaters and umbrellas, so diners can sit outside all year round comfortably whatever the weather.”

Andrea George at retail property specialist, Tushingham Moore concluded: “With the first restaurant letting now secured, we are seeing the creation of a new leisure destination, which will serve the city’s professional market by day, yet be frequented by people from around the region in the evening and at weekends.

“For the remaining two restaurant units, we are targeting national and independent operators, which will complement the existing offer.”

Exchange Flags is already home to high-profile tenants including Brabners Chaffe Street, the Ministry of Defence, Deloitte and Knight Frank.