Broad Street Plaza owners plan to replace departing restaurant chains

The Chinese Buffet and the Harvester
The Chinese Buffet and the Harvester

The owners of the Broad Street Plaza have vowed to replace two restaurant chains who announced that they will be closing their sites this month.

Harvester announced that they were to close its doors for the final time in January, after The Chinese Buffet did so last week.
Despite the closures, Neil Sinclair, chief executive of Broad Street Plaza owners Palace Capital maintained that they aren’t hugely concerned and that plans would be put in place to assist tenants.

“It’s not necessarily the economy but you’ve got to get the model right for where you are, which The Chinese Buffet and Mitchells & Butlers haven’t done," said Mr Sinclair.

“What we’re going to do is embark on a programme to increase footfall to the Broad Street Plaza complex. We’re reviewing the situation and the tenants will be replaced, but it’s not something we’re concerned about in the medium term.”

Palace Capital, a property investment company that focuses on commercial property outside London, bought the plaza in 2016

Palace Capital, a property investment company that focuses on commercial property outside London, has acquired Broad Street Plaza in Halifax in a £24m deal.

The plaza was completed in 2012 and is on an island site in the heart of Halifax opposite the bus station and Town Hall. It comprises circa 113,000 sq ft and a 429 space multi-storey car park

A spokesperson for Harvester owners Mitchells & Butlers said: ““After much consideration we have taken the decision to close the Harvester Broad Street Plaza, Halifax later this month.

“We’re pleased to confirm we have been able to secure all of the team jobs in our other nearby restaurants in the Halifax and Yorkshire area.

“We continually review our estate to ensure we are driving the best value for our shareholders and from time to time take a decision to close or rebrand a business.”

The Chinese Buffet announced their decision not to re-open on their Facebook page on Thursday, putting the decision to close down to “unstable economy, reduced consumer spend and increasing costs.”