This commercial property investment for sale in London was brought by Athena Advisers for a Brazilian investor who wanted to purchase a commercial property for sale in London. This savvy investor wanted a prime asset in one of London’s central tourism, cultural and business hotspots.
The restaurant, in Dean Street in the heart of London's west end was pre-let to Wagamama for 25 years with an annual rent of £600,000 per annum, enjoys a prominent position in the heart of busy Soho. Less than 150m from the Elizabeth Line of the new Crossrail service the unit is situated on lively Dean Street.
Athena Advisers have secured a new 999-year lease with negligible ground rent. The property is part of a new-build construction, also including residential elements and was completed in September 2016.
Offering 5,457 sq ft (507 sqm) of A3 restaurant space arranged over lower ground and ground floors, this commercial property on Dean Street will become Wagamama’s flagship UK restaurant. As well as becoming a significant new destination for the area, the property also received many plaudits after its refurbishment using the new Wagamama’s concept style, replicating that of their flagship New York branch on Madison Avenue.
The property was purchased for £14.5m in November 2017.