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13

Dec 2022

Last Updated: 13/12/2022
Business
Business

Caffe Nero doubles the size of its Ripon premises

by Tim Flanagan

| 13 Dec, 2022
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ripon-13th-dec-2022-caffe-nero

Coffee shop Caffe Nero has doubled the size of its premises on Market Place North in what is described as "vote of confidence" in Ripon.

The expansion was made possible after Sterne Properties Limited acquired the lease of the existing Caffe Nero and the adjacent property, which had been vacant since Leeds Building Society closed its Ripon branch in November 2020.

Tom Limbert, director of property consultants Central Retail, who acted on behalf of the international coffeehouse company, said:

"This is a prime corner site location and it's a very positive move by Caffe Nero to double its size."


Robert Sterne, director of Sterne Properties, told the Stray Ferret:

"We are delighted to have negotiated a ten year lease covering the newly-expanded premises and see this as a vote of confidence in Ripon from Caffe Nero."


He added:

"This adds to our portfolio of investments in Ripon, where we have injected new life into empty properties by introducing leisure and hospitality uses."


The company's portfolio includes The Claro Lounge on Market Place South, Curzon Cinema on North Street and Coffee at Number 10 on Queen Street.

Sterne Properties, which has been investing in Ripon for 30 years, also owns the Halls of Ripon premises on Fishergate - where The Hive Cafe is located - and Appleton's butchers on Market Place East.



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