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Bradford Italian restaurant Mamma Mia cooks up a storm with £200k finance

Bradford Italian restaurant Mamma Mia is seeing a major overhaul after owners Gianni and Nella Massimo invested £200k in buying their premises and a major refurbishment.

The owners of Mamma Mia, which can be found at 3, Upper Piccadilly, have bought the lease on the 4,300 square foot ground floor of the four-storey building for £120k.

Occupied by the restaurant since the family founded it over 30 years ago, the ground floor will now undergo a comprehensive six-month refurbishment costing £80k.

The lease was sold by the Johal Family, who own the SS Electrical stores in James Street, Bradford, and Stanningley Road, Armley, Leeds, the former site also including a Panasonic shop.

Mr Massimo said: “We had the opportunity to buy the lease on financially attractive terms, and doing so has given us significantly more flexibility over using the premises.

“The transaction also means we can now hand the business and its site on to our eldest son, who already works with us, alongside our nephew, who has been with us since he was a young boy, when we’re ready to do so.”

Mr and Mrs Massimo, originally from Naples, were advised on acquiring the lease by Simon Mydlowski, a partner in the commercial property team of Yorkshire law firm Gordons.

Mr Mydlowski said: “Acquiring the lease is great news not just for Gianni and Nella but all lovers of quality Italian food in the Bradford area. I’m sure the purchase, along with the refurbishment, will enable Mamma Mia to enjoy a future that’s even more successful than its past.

“We at Gordons certainly wish the business all the best, as it enters this exciting new era.”

Mr and Mrs Massimo’s acquisition of the lease was part-funded by HSBC.

Mamma Mia’s boost for Bradford follows other significant positive news about the city’s future. This included the opening of the City Centre Growth Zone, a £35 million initiative supporting new businesses and the expansion of existing enterprises. It also featured the announcement that Broadway Shopping Centre, containing 70 retail units, will open next year.

One of the UK’s most successful law firms, Gordons has offices in Leeds, Bradford and London, employs 265 people and has a turnover of more than £22.9 million.

This was posted in Bdaily's Members' News section by Clare Burnett .