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.