Clearbell announces opening of Fridays and Estábulo at The Riverwalk, Durham

19.12.2022

Clearbell Property Partners II LP (Clearbell), a fund managed by Clearbell Capital LLP, today announced two new openings at The Riverwalk, the 177,000 sq ft retail and leisure destination in Durham city centre.

American and Brazilian restaurant chains Fridays and Estábulo now each occupy 6,000 sq ft across the ground and first floors, respectively.

Since Clearbell’s acquisition in 2014, the scheme has been transformed into a riverside promenade and comprises high-quality shop units, a six-screen multiplex Odeon Luxe Cinema and student accommodation in the setting of the World Heritage Site – making the most of its location and views of Durham Cathedral and Castle. The site lies in a very prominent location in Durham City Centre, within a five-minute walk from Durham train station. It also offers 470 covered car parking spaces.

By placing new and existing retail alongside multiple leisure occupiers, the site has become a popular community space.

In the lead-up to Christmas, The Riverwalk has arranged an array of fun-filled activities with a focus on children’s entertainment – in conjunction with a range of big festive retail offers. Last week, shoppers had a visit from Father Christmas, as well as the opportunity to experience a “living snow globe” full of unique special effects placed in the heart of the shopping plaza. The festive fun culminated this weekend with face painting, a “Grinch Grotto” where families went on an adventure to help Father Christmas deliver gifts to various location at The Riverwalk and a live concert extravaganza with all the Christmas hits.

Adam James, Asset Management Director, Clearbell, said:

“The leisure sector is naturally experiencing significant headwinds given the current economic backdrop – not least because of rising energy, fit-out and staff costs. But national and regional occupiers with strong growth brands are still willing to commit to new long-term deals. We welcome these two exciting new openings at The Riverwalk, which reinforce this scheme as the prime leisure destination in the city centre.”

John Sutherland, Property Director, Fridays, added:

“We are ending 2022 on a high note by joining The Riverwalk community and creating 70 new jobs with the opening of our Durham restaurant. The historic and cultural setting of Durham is a great match for Fridays, where honouring our heritage is a significant part of our offering. We look forward to opening our doors to the people of Durham and encouraging them to ‘show their stripes’, whatever they may be, while wowing them with memorable service alongside our favourite Fridays classics. From our famous burgers and legendary chicken strips to our vegan fajitas and delicious cocktails, guests will be spoiled for choice.”

Clearbell was advised by real estate agents Pudney Shuttleworth and Rawstron Johnson.