Swansea success
When Caterer parted company with Dermott's in June last year the restaurant's future was uncertain. In spite of the fact that the 45-seat venue was trading well, plans put forward by the Swansea Housing Association to regenerate the street in which it is located had been submitted to the local council.
One year on, and the future could not be brighter for the restaurant and its 30-year-old owner, Dermott Slade. In two months' time, the restaurant, situated in one of the most underdeveloped areas of Swansea's commercial centre, will close its doors and relocate to arguably the most exciting hotel project to hit the city in years.
A quarter of a mile from Dermott's current home, local entrepreneur and millionaire Martin Morgan is spending £2.5m refurbishing and renovating the former ABP (Associated British Ports) building in Adelaide Street. Morgan's hotel, which is scheduled to open next spring, will be housed in the Grade II-listed building and will have 20 bedrooms, two restaurants, conference facilities and a health suite. Slade has been appointed chef-director.
"When the Swansea Housing Association application went quiet, I made a few enquiries, because I was interested in buying the building in which Dermott's is located for myself," explains Slade. "I had the building valued and offered the landlord £135,000, but he was not prepared to sell to me. At that point, I made a conscious decision to move out and buy a bigger restaurant."
Almost simultaneously, though, Slade received a call from Morgan's secretary, saying that he had a proposal. "He basically asked me if I would transfer Dermott's to his hotel for a sum, a percentage of the takings, as well as a set wage for myself as chef-director," Slade recalls. "Unbeknown to me, Martin had been to the restaurant on several occasions and felt that I was the man for the job. He admired how far I'd got with the location and with such a small team, and said that if I could make it in High Street I could make it anywhere."
Slade's new domain will be set on two floors with an additional mezzanine level in between. A brasserie will be situated on the ground floor, extending to the mezzanine, while a fine-dining restaurant, to be called Dermott's, will be situated on the second floor. A lounge area with an overspill from the restaurant will be adjacent to the main restaurant. Slade will also oversee room service.
His main kitchen will be on the first floor, next to Dermott's, while a satellite kitchen on the ground floor will provide space for a prep area, a pastry section and storage facilities. Details, such as the number of covers, menus and pricing structure, are yet to be determined.
In addition to his new role, Slade has also become a father for the second time. His wife, Wendy, gave birth to Tomas on 13 April.
The story so far
Dermott Slade opened his eponymous restaurant on 10 October 1998 using a £40,000 interest-free loan from his father-in-law. The restaurant originally had 34 seats, but increased its capacity to 45 in May last year. The eaterie lost £7,000 in its first six months of trading, but achieved a turnover of more than £110,000 in its first full year, 1999.
Dermott's Restaurant
219 High Street, Swansea SA1 1NN
Tel: 01792 459050
Turnover for 2000: £131,088 (1999: £112,220)
Turnover for six months to June 2001: £74,340 (2000: £63.540)
Average spend per head: £45 (up from £40 the previous year)
Average daily covers: 35 (up from 30 in 2000)
Food/drink percentage split: 64/36
Next week we revisit Artizian Catering Services.
