Oriental Buffet acquires third restaurant

12th October 2009, 12:36pm

Acting on behalf of Punch Taverns, Christie + Co has sold the freehold interest of the Firestone pub in Exeter, Devon, to local Chinese restaurateur Mrs Xin Li, who operates the Oriental Buffet brand, for an undisclosed sum.

Located in the city centre close to Exeter Cathedral, the two-storey property features an 80-cover ground floor bar and a 100-cover first floor restaurant.

Mrs Li currently operates the Oriental Buffet restaurants in Paignton and Torquay. She has already carried out a refurbishment programme on The Firestone and re-opened the pub under the Oriental Buffet banner.

Jon Clyne from Christie + Co's Exeter Office said: "Despite the challenging market there remains a strong demand for quality pubs/restaurants of this type as the success of this sale demonstrates.

"Many single and multiple operators, such as such Mrs Li, are taking advantage of the current market conditions and adding to their estates. With the undoubted success of their operations in both Torquay and Paignton, the owners of Oriental Buffet decided to pursue this high-profile site in Exeter, and with their wealth of experience in the sector I am confident they will prove a great addition to the city's restaurant scene."