Paul Heathcote sells Preston restaurant

Chef-restaurateur Paul Heathcote has confirmed that he has sold the Olive Press & Brasserie in Preston, after owning the business for 21 years.

The sale of the Italian restaurant, which accommodates a total of 200 covers on the ground and lower ground floor of a Victorian building overlooking Winckley Square and incorporates a private dining space, has been sold to an undisclosed independent restaurant group. A sum of £250,000 was sought for the leasehold interest of the site.

Winckley Square is due to undergo a renovation worth around £1m this year.

Heathcote will now concentrate on developing and expanding his outside catering business, Heathcote & Co, having sold his flagship Longridge restaurant, which held two Michelin stars, in 2012.

The majority of staff at the Olive Press will be offered alternative employment at Heathcote & Co.

Heathcote said that he has known the new owner for a long time and he was confident that they would bring something "new and exciting" to Preston.

"There is a lot happening in the city and with this year's plans for the Square and Fishergate Centre there is much to look forward to," he said.

Paul Heathcote puts Olive Press and Heathcote's Brasserie up for sale >>