London - Dean Street - Retail Investment

£14.5MAcquired

This commercial property in London was acquired by Athena Advisers on behalf of a Brazilian investor who wanted to purchase a prime retail asset in one of London’s tourism, cultural and business centres.

The restaurant, 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.

We secured a new 999-year lease with negligible ground rent. The property is part of a new-build construction, also including residential elements, which was completed in September 2016.

Offering 5,457 sq ft (507 sqm) of A3 restaurant space arranged over lower ground and ground floors, the 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 due to it’s refit 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.

About London

About London

United over 32 districts and an area of 1,572km sq, even locals can feel daunted at times by its sheer size. Yet what makes it seem so vast is London’s superb transport network, enabling its 9 million residents to hop around with relative ease –there’s little excuse not to visit that friend or new restaurant opening on the other side of town.Where possible, Londoners love to travel by foot, exploring the endless parks and green spaces that take up half of the city and make London one of the most verdant capitals in the world. [...]

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