Itihaas, an Indian fine-dining restaurant in central Birmingham, has been brought to market after more than two decades of trading.<\/p>\n
The business is being sold by founder and executive chef Raj Rana, who is preparing to pursue a new hospitality venture.<\/p>\n
The sale is being handled by Christie & Co.<\/p>\n
Since opening in 2005, Itihaas has developed a strong reputation within the regional hospitality market, supported by a series of industry awards and media exposure.<\/p>\n
The restaurant has featured in television productions involving Michael Portillo and Michel Roux Jr, and achieved national recognition at the British Curry Awards.<\/p>\n
The opportunity is being offered on either a virtual freehold basis, with an asking price of \u00a31.25m, or as a leasehold. It is expected to attract interest from experienced operators and investors seeking a well-established, fully fitted hospitality asset.<\/p>\n
Raj Rana said: \u201cAfter 21 incredible years, Itihaas has been one of the greatest journeys of my life. I will be sad to close this chapter at this location but at the same time excited about the new journey ahead. My team and I are preparing for the next stage of our hospitality journey as we move into a new hotel venture with a restaurant and wedding banqueting operation.<\/p>\n
\u201cI will be sad to see the end of Itihaas at this location, but at the same time I am excited about the new journey ahead. Running a hotel with an on-site restaurant and wedding banqueting operation is a significant undertaking, but my team and I have been preparing for this transition for some time. We are highly motivated and excited about the next chapter for the Itihaas family.<\/p>\n
\u201cThe sale of Itihaas presents a rare opportunity for an experienced hospitality operator or investor to acquire one of Birmingham\u2019s most recognisable restaurant brands with a strong reputation, established customer base and more than two decades of heritage.\u201d<\/p>\n
James Dodd and Jonty Green added: \u201cItihaas is one of Birmingham\u2019s most recognisable and longest standing Indian dining institutions, and it is a privilege for us to be appointed to bring such a distinguished business to market. With more than two decades of awards, heritage and loyal patronage, opportunities of this calibre rarely become available.<\/p>\n
\u201cThe restaurant\u2019s strong trading performance, beautifully presented interiors, and established reputation make it an appealing proposition for a wide range of operators, whether an experienced restaurateur looking to build upon a well-loved brand, or an investor seeking a high quality, fully-fitted hospitality venue. We expect interest from parties who appreciate both the legacy and the significant potential that Itihaas offers for the future.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"
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