Investment News | 22 October 2025
Why we invested in Derby: The Fulton Partnership
Over 18 months ago, The Fulton Partnership opened a stunning new luxury restaurant at Wavensmere Homes’ Nightingale Quarter development. Since then, The Pepperpot restaurant, which occupies one of two restored Victorian ‘pepper pot’ buildings, has gone on to win numerous awards. Here, in their own words, founders Graeme and Rachel Fulton, explain why they chose to invest in Derby – and be part of the city’s regeneration story.

Derby has always been close to our hearts.
Quite literally for Rachel, who was born and raised here, and for Graeme, who moved down from Scotland over 20 years ago and quickly came to see Derbyshire as home.
Over the years we have built our lives and careers here, and opening The Pepperpot feels like the culmination of everything we have worked towards.
Our journey together in hospitality began in 2008 with The Bowling Green Inn in Ashbourne, a small country pub that taught us the importance of good food, great people and genuine hospitality.
From there, we launched The Butcher’s Bar and Steakhouse in Long Eaton, creating a lively, community-driven dining experience that we later leased so we could focus on something even closer to our hearts, The Pepperpot in Derby.
We also opened Stables Ashbourne, a luxury boutique hotel in a beautiful old house known locally as The Mount, right next door to The Bowling Green.
That was another case of right time, right place, and proof that when something feels right, you just know.
Derby has always been the city we wanted to invest in. We have admired its creativity, resilience, and warmth for years, but we wanted to wait for the right location, one that would do justice to our vision.
We dreamed of creating a fine dining restaurant that felt refined yet relaxed, a place where people could enjoy exceptional food and service but still feel completely at home.
But there was another reason too. We believed we could play a small part in Derby’s regeneration, that we could help push the city on.
Derby is full of potential, and we wanted to be part of that movement, to bring something new, ambitious and exciting that would make people see the city in a different light.
When we found The Pepperpot, we knew instantly it was the one.
The building has character, heritage and heart, and we feel more like custodians of this amazing piece of Derby’s history than owners of a restaurant.

Originally part of the Derbyshire Royal Infirmary, it was opened by Queen Victoria in 1891, and it still carries a sense of importance and pride that you can feel the moment you step inside.
To see it saved, revived and brought back to life for the people of Derby is such an honour.
Since opening, The Pepperpot has achieved more than we ever imagined.
We were honoured to receive the Marketing Derby Innovation Award at the 2024 Food and Drink Awards, followed by an AA Rosette for Culinary Excellence 2025/26, and membership to The Master Chefs of Great Britain.
And just earlier this month, we were absolutely thrilled to be crowned Restaurant of the Year at the 2025 Marketing Derby Food and Drink Awards.
Our goal with The Pepperpot goes beyond being a great local restaurant.
We want to help put Derby on the map for food. We do not just want to be great in Derby, we want people to travel to Derby because of The Pepperpot, and in doing so, discover everything else this brilliant city has to offer.
That is already beginning to happen. We were recently recommended by The Observer, a huge moment for us and an exciting sign that people outside the city are starting to take notice of what Derby has to offer.
If we can help make people fall in love with Derby the way we have, to see it not just as a great place to live and work but as a destination for incredible food and genuine hospitality, then we will know we have achieved something truly special.