Peel St restaurant sold to new Press owner Jay Patel

An emerging hospitality investor has continued his spending spree, taking over one of Adelaide’s hippest laneway restaurants.

The trio behind Peel St restaurant have sold the business to Jay Patel.

The trio behind acclaimed CBD restaurant Peel St has sold the venue to emerging hospitality investor Jay Patel.

Opened in 2013 by head chef Jordan Theodoros and business partners Martin Corcoran and Ben McLeod, Peel St has played a major role in the revival of Adelaide’s west end and the activation of laneways around Peel and Leigh streets.

Its flavour-packed fusion of Asian, Middle Eastern and Mediterranean food has attracted a loyal following and has won it a regular place on the delicious100 list of Adelaide’s best restaurants.

Mr McLeod said despite the sale it would be “business as usual” at Peel St, with all three original owners staying on “for the foreseeable future”.

Jordan Theodoros, Ben Mcleod and Martin Corcoran following the opening of Peel St in 2013.

“Our staff are remaining – so the same familiar faces will greet you, and it’ll be the same chefs on the pans,” he said.

“Peel St restaurant will remain the same generous, flavour-packed, welcoming, hospitable venue that Adelaide knows and loves.”

Mr Patel has been actively investing in Adelaide’s dining scene during the Covid-19 pandemic, acquiring Press Food & Wine earlier this year, and also picking up a major a stake in Leigh Street Wine Room.

He said he was excited by opportunities to invest in Adelaide’s hospitality industry as it recovers from the pandemic.

“Peel St is a unique restaurant, offering something quite different to other restaurants in Adelaide,” he said.

“It has great energy, flavour-packed and generous food and excellent service, and that will continue moving forward.

“Jordan, Ben and Martin have done a tremendous job over the years, and I’ll be working closely with them to ensure we continue the excellent reputation the restaurant has built over the years.”

Exterior at Press Food & Wine. Picture: Jacqui Way Photography.

Mr Patel has a background in business management and international trade from India, before relocating to Australia seven years ago.

He has been involved in the hospitality industry for the past four years, both as an owner and manager of venues, including the The Strand at Glenelg.

He is also a director of sandblasting supplies and manufacturing company Quantum Blast Technologies, and has a range of other business interests.

While he said he wasn’t actively looking to add to his growing portfolio of hospitality businesses, he said he was open to investment opportunities in Adelaide and interstate.

“I’m passionate about the hospitality industry and also keep a keen eye on real estate, an area of business and investment that I’m interested in moving into.”