NEW ASIAN FOOD FOR VALLEY

MAY 2010

THE Fortitude Valley restaurant market may be competitive, but that hasn’t stopped Insyde Restaurant Group from opening its new 895sqm venue.

Managing director Grant Johnston says the Siana Valley’s $3.6 million fit-out includes bars, dining facilities, a lounge area and private dining space.

“We’re looking at a five year turnaround to get enough sales and we have a 10-year lease with Leighton Properties,” says Johnston.

“The whole venture is made up of landlord incentives, venture capital and equipment financing.

“The breakdown is that there’s 770sqm in the interior but we’ve got an external license that includes 125sqm – we’ve got a bunch of high tables along Brookes Street.”

The restaurant across two floors on the corner of Wickham and Brookes streets will offer function areas for between 30 and 800 guests.

The opening follows the momentum of Insyde’s other venues Plaza Deli Bistro and Siana City in the Riparian Plaza

Johnston expects the grand opening of Siana Valley on May 13. The interior designer, along with business partner and chef Greg Bunt, saw the potential in the project more than 18 months ago.

“We started looking at it when it was just a hole in the ground in October 2008 – we started thinking we’d do the first level only, but when we started looking at it further we decided we could do more,” he says.

“I’m able to see the potential of a venue even when the building hasn’t been made yet, while most people need to at least see the building first to see if it would work.”

Get our daily business news

Sign up to our free email news updates.

 
Finexia’s Childcare Income Fund secures ‘very strong’ rating from Foresight Analytics & Ratings
Partner Content
Private credit specialist Finexia Financial Group (ASX: FNX) has secured a “very...
Finexia
Advertisement

Related Stories

NEXTDC secures $937 million from institutional offer

NEXTDC secures $937 million from institutional offer

NEXTDC's (ASX: NXT) massive raise to speed up the development a...

"10x in six months": Brisbane startup Xrecruiter opens Melbourne office

"10x in six months": Brisbane startup Xrecruiter opens Melbourne office

A Brisbane-headquartered startup that helps recruiters strike it ou...

Another setback for Tritium as Nasdaq calls out EV charger manufacturer over listing standard

Another setback for Tritium as Nasdaq calls out EV charger manufacturer over listing standard

After restructuring its shares by one-to-200 in order to prope...

US investor Quinbrook gears up to build giant battery at Brisbane’s $2.5b Supernode

US investor Quinbrook gears up to build giant battery at Brisbane’s $2.5b Supernode

US-based investment group Quinbrook Infrastructure Partners is pois...