Happy days as Chinese restaurant signs 20-year Boro lease

Please Credit Picture:Keith Taylor
Tees Business Digital Media Pack

Please Credit Picture:Keith Taylor

A restaurant owner has expanded into Teesside after signing a 20-year lease on property in Linthorpe Road, Middlesbrough.

Shiwei Wang owns a Chinese restaurant in Newcastle and has recently opened the doors on his Teesside 3,200 sq ft, 120-seat ‘Happy Villa’ restaurant.

The investment marks further sign of “increased confidence” in the area, according to owner Geoff Hogg, a well-known property investor and regeneration entrepreneur.

Mr Hogg, who has more than 20 years’ experience in the property sector, has built a strong mixed portfolio of retail, office and residential schemes, having invested more than £15million across the North East. He also acts as an angel investor in a number of North East businesses.

Mr Wang said: “I have a successful restaurant in Newcastle and wanted to expand into Teesside.

“The property I have now is ideally situated and of the right size to accommodate the expansion.”

Mr Hogg, who owns Linthorpe Developments, which is leasing the restaurant premises to Mr Wang, said: “I am very pleased that Mr Wang has made an investment in the area. It is further positive news that areas like Middlesbrough are on the right track to renewal.

“The 20-year lease on this property represents a commitment to the Linthorpe Road area, which is a busy thoroughfare, where substantial investment is being made in the area making it an ideal location for a restaurant.

“This is but one of many other similar transactions Linthorpe Developments has led in the area during recent months.”

 

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