Investment firm Cain International has agreed a new lease with Prezzo at its Islington Square development in north London to open the brand's first new restaurant since 2018.
Expected to open late summer, the 4,319 sq ft restaurant will also be the first to feature Prezzo's new energy-efficient kitchen plan, which will increase the energy efficiency of its cooking by 47% and reduce CO2 emissions by up to 75%.
The national Italian restaurant chain, which was acquired by Cain in December 2020, will also be moving its restaurant support centre to the development.
Jonathan Goldstein, chief executive of Cain International, said: "As we emerge from the restrictions of lockdown and enjoy increasing freedom to socialise, we are confident that Prezzo will benefit from the pent-up demand for hospitality-driven experiences.
"Islington is an iconic destination for retail, culture and dining in London, making it the perfect location for Prezzo's headquarters and a new restaurant location. There is an exciting pipeline of opportunities ahead for the team and we look forward to introducing the Prezzo brand to a new market, as well as continuing to work closely with Karen and her team as we reopen sites across the UK."
Karen Jones, executive chair of Prezzo, said: "It is truly exciting to be opening a new Prezzo restaurant. The new Prezzo Islington will be the greenest Prezzo to date and will serve as a test bed for sustainability initiatives that we can roll out across all our restaurants. The location of the restaurant in Cain's Islington Square development demonstrates the ambition of Prezzo's partnership with Cain and the confidence both companies share in the resilience of the British high street."