Q&A with Marcus Street, Head of Acquisitions at Nightcap PLC
Name: Marcus Street
Role: Head of Acquisitions
Who are Nightcap? Nightcap is a plc which was launched back in 2020 to take advantage of the exceptional opportunity we are seeing in the market to acquire and organically grow drinks-led businesses. They are focused on simple, replicable business models with nationwide rollout potential centred around the consumer’s social experience.
How many venues do Nightcap currently have? We have 15 London Cocktail Clubs or now newly named The Cocktail Club. 10 Adventure Bar Group sites and 5 Barrio Bars.
Target locations? UK wide, concentrating on University cities and London.
How many new venues are you targeting? We are looking to have 3/4 of our brands in each major university city/town in the next 3 years.
Size requirements? We are very flexible as we have a variety of concepts. So ranging from 2,000sq.ft to 15,000sq.ft
Additional requirements? Basement, Ground, Roof Top. Unusual spaces welcome. Shell
Planning consent? Sui Generis for a cocktail bar. Existing bar/clubs are preferred but would consider all other use class opportunities. Late license essential.
Freehold or Leasehold? Leasehold
Recent openings or new venues in the pipeline? At the end of last year, we opened 3 new sites in Bristol, Reading and Mansion House, London all within a week which was pretty hectic!! Our next 5 openings will be Cardiff x2, Bristol, Birmingham and Exeter.
Additional Questions:
What are the main challenges you face when acquiring new property? It’s a hugely competitive market place at the moment, so other operators would be the main one, but then the usual, planning and getting a suitable premise licence.
Favourite occupier? I enjoy my food and love Mowgli, Tonkotsu and Dishoom, also the steak restaurant Pasture in Bristol.
Favourite building? Love the olde worlde pubs in London. The Bank of England, Fleet Street with the red London Bus parked in its courtyard is great and the Guinea just off Berkeley Sq, which is an institution within the pub surveying world are two that spring to mind.
Favourite leisure destination? St Andrews, Old Course
Contact details?
Email – Marcus@streetpropertyconsultants.co.uk
Tel - 07557553697
