£20m sale-and-leaseback will boost Ask expansion

19 July 2004
£20m sale-and-leaseback will boost Ask expansion

TDR Capital, owner of the Ask and Zizzi restaurant chains, has sold 12 of its sites to private UK investor Tony Khalastchi in a sale-and-leaseback deal worth just under £20m.

Zizzi: more dough to expand
The 12 properties, which include restaurants in Finchley in north London, Nottingham and Brighton, will continue to trade as Ask and Zizzi, said a spokeswoman for agent Davis Coffer Lyons. The money is expected to be ploughed back into expanding the two chains, which currently have some 172 restaurants between them. TDR has agreed a similar deal worth £8.5m on five Pizza Express sites outside London. by Nic Paton Buy this week's Caterer magazine for more industry news and analysis
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