Asian-inspired fast food chain Itsu has appointed Savills as it seeks to double its existing 80-store strong portfolio.
The Julian Metcalfe-founded group is looking to strengthen its foothold in London, as well as grow its presence in new locations across the country with its ‘temple’ flagship stores, enhancing and expanding its dine-in experiences.
The focus on flagship stores will be centred around “prominent and thriving city centres, that benefit from high levels of spend and footfall from shoppers, office workers, tourists, students and residents”.
Itsu property director Kate Thompson said: “At itsu, we are focused on making the joy of delicious, health[ier], Asian-inspired food available to everyone across the UK and beyond. We look forward to working with Savills to help us deliver on our plan for growth.”
Metcalfe launched Itsu in London’s Chelsea following the success of his Pret a Manger sandwich chain.
In 2013 the group opened its first restaurant outside London, in Oxford.
Backed by private equity firm Bridgepoint, Itsu operates a number of international sites and is now also a major player in the retail space.
Earlier this year, CFO Greg Thorp told MCA Itsu planned to open 15-25 new shops in 2024, a mixture of equity and franchised.
He was speaking as he discussed 2023 sales figures, with restaurants up 18% to around £127m, and grocery up 23% to nearly £50m.
The restaurant business saw like-for-like sales growth of 6.9% year-on-year, with travels hubs up 21%.
