The name of the food and drink business which could form part of a new Lichfield city centre development has been unveiled.
Documents published ahead of a meeting of Lichfield District Council tonight refer to efforts to attract The Botanist.
The company operates around 30 outlets across the UK, but their name had been kept under wraps as a potential addition to the redevelopment of the former Debenhams store in the city centre.
But a report – which has since been deleted from the council’s website – to a meeting of the local authority highlighted the benefits of the “proposed installation of The Botanist restaurant at the redevelopment site”.
It comes as councillors prepare to discuss whether or not to approve a £1.7million investment to attract the anchor tenant alongside the Everyman cinema.
An initial document uploaded to the local authority’s website described the brand as a “prestigious, high quality” name, but did not disclose the company.
But the later appendix revealed calculations had been made relating to the potential economic benefits of attracting The Botanist.
The report by specialists looking at the sector explains how studies exploring the financial upturn over the next 25 years if the outlet was brought in would look:
“All of the benefit cost ratios [covering a three to 25 year period] are positive, with those for the ten year and 25 year periods reflecting really positive value for money in wider economic terms.
“Of note in the report is reference to the halo effect which has been identified in respect of the food and beverage anchor being secured in other locations across the country.
“In essence, evidence shows that the presence of the food and beverage anchor encourages private sector investment into areas where it operates, with other high-profile occupiers often taking space shortly after they commit to a centre.”
Report to Lichfield District Council’s meeting
The study also suggests that the payback on the council’s investment could be reached at some point between years ten and 12 of the development.
It will be discussed at a meeting of the council this evening (16th April).
