The resurgence of the dining scene in Leeds has seen a belly busting 20 to 30 new restaurants and eateries opening in the 18 months since the opening of Trinity shopping centre. With so many restaurants thriving in the centre of Leeds, fierce bidding wars have ensued between restaurants hungry to become part of the scene.
Competition for retail space in Trinity has driven up rents by 40% on the most sought after units. According to CBRE, there are at least ten operators currently looking to secure a unit in or around Trinity. With the number of available units decreasing, competition for the remaining spaces is getting seriously spicy.
With numerous restaurants challenging supermarket giants like Sainsubury’s for retail space, it is remarkable how far things have come since the dark days of 2009, when 13% of restaurant businesses in Yorkshire were declared insolvent. It has been estimated that the Leeds restaurant sector shrank by 20% during the economic downturn.
The construction of Trinity and Leeds Arena has dramatically changed the fortunes of the restaurant sector, attracting more visitors who are willing to spend more money per visit. The result so far has been tasty.