Steve Drake explains decision to put Sorrel on the market
Steve Drake has explained his decision to put Michelin-starred restaurant Sorrel on the market.
Business selling agents Christie & Co today listed on their website how they were bringing Sorrel to the market, on a 10-year lease, with an asking price of £195,000.
Steve opened Sorrel in 2017 and last year stepped aside from day-to-day kitchen duties after 35 years in the industry, with Alex Payne, formerly of The Tudor Pass, taking on the chef patron role.
But Steve remains the owner of the Dorking-based restaurant, whilst also having focus on his other business interests, such as Sorrel Social.
Outlining the reasoning behind putting Sorrel on the market, Steve told The Staff Canteen: “It definitely wasn’t part of the plan, to be honest.
“But the idea really is that we know we’ve got a fantastic business, a fantastic restaurant and a strong team here.
“We’re just looking for an investor. And the only way to find an investor is to put it out there.
“We’re very flexible, but we just want somebody who’s really enthusiastic with food, hospitality and has a real passion for it.”
Alex Payne’s role at Sorrel
Steve continued: “Alex isn’t going anywhere. The place is still going to operate as it is.
“I can take a part if they wanted me to, whatever, I’m very, very flexible.
“But at the end of the day, we just need a bit of investment.”
Explaining further why now is the time to reach out for an investor, Steve said: “Times are quite tricky.
“With what’s going on in the world of hospitality and the finances behind it, for us it’s quite a positive story that we have got a fantastic business, but we just need some investment really, just to help us along and really flourish.
“Since the last two Aprils, we’ve seen wages go up, etcetera, etcetera. Costs have just gone through the roof.
“So we’ve suffered like everybody else has and our resources have been diminished a bit.”
‘I’m still here all the time’
From the outside, to read that an owner is selling his restaurant could be seen as them wanting a clean break.
But Steve is not looking to jump at the first offer that comes his way.
“I think it’s really important how we move forward and who takes it on,” he said.
“It’s obviously been a massive part of my life and people think that I’ve disappeared, and I really haven’t. I’m still here all the time.
“I’m running my other businesses now and I’m doing some other projects as well, but I love this place.
“I’m hoping that we can find somebody who can just take it to the next level, bring in some investment, buy some ownership in whatever percentage that is, and then just go from there.”
He added: “It really does depend on who comes along, who’s interested.
“If somebody wants to work with Alex and says, ‘look, me and Alex want to do it’, then I’m quite happy to step away and let them and Alex look after it.
“But the plan is not to close or to change.
“The plan is to move forward in a positive way.”
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Steve Drake explains decision to put Sorrel on the market
