Quality Investment Acquired in Hoxton
We have recently acquired an interesting investment in the centre of Hoxton, London N1 on behalf of Arinpath Ltd as part of the replacement of their Soho holding, which was acquired by Crossrail for the Tottenham Court Road station redevelopment.
The attraction of this investment is that it is a restaurant in the heart of fashionable Shoreditch – a fantastic lunch and evening destination with a strong night club provision. The surrounding area being a mixture of residential and commercial, known for housing fashionable residential, advertising and media companies with nearby Old Street fast becoming the epicentre of the UK’s internet-related industry.
The property comprises a 5 storey building, with the restaurant element being on ground and lower ground floors, and the upper three floors comprising three residential apartments.
The restaurant has recently undergone substantial refurbishment and now trades under the Rossopomodoro brand, a successful chain of international Italian restaurants with over 80 locations around the world, 6 of which are in London.
The price paid reflects a net initial yield of circa 6.5%.
Lewis Craig have been acting on behalf of Arinpath Ltd for over 25 years and will be managing this quality investment. We are actively seeking to acquire similar opportunities. For further information on our investment client requirements, please speak with Jeffrey Craig.
High Stakes in Haverhill
Lewis Craig asset management department working closely with our professional team have completed a lease renewal with AXA (UK) Ltd of a major 40,000 sq ft regional office facility in Suffolk.
After two years work, a new 10 year lease has been completed on behalf of long standing off-shore management clients involving an annual rent roll approaching £300,000 pa.
The process of negotiating and agreeing a lease, not only satisfying AXA’s requirements but also our client’s funders, proved challenging to say the least. The situation was further complicated by having to resolve car park boundary and demise considerations, not to mention the trials and tribulations of having to navigate the legal and estate departments of both the Local and County Authorities – but we got there in the end!
Lewis Craig continue to manage this excellent asset, which also incorporates a substantial retail element involving tenants such as Greggs, Savers, Corals, etc.
We continue to seek similar management-intensive situations, with our clients typically including high net-worth individuals, family trusts, property and off-shore companies. For further information please speak with Andrew Taylor or Jeffrey Craig.
Just Falafel rolls into London
A great start to 2013 for our client Just Falafel, with five sites now completed, three are now trading, in Covent Garden’s Monmouth Street, Baker Street and at The Broadway Centre in Hammersmith.
The next Just Falafel locations are Charing Cross Road and Croydon, currently under fit-out, will be opening shortly. We continue to seek further A3 or A5 opportunities in key Central London thoroughfares and locations close to underground and mainline stations, as well as starting to looking further afield to major cities.
Just Falafel, the vegetarian fast-food restaurant, launched in the UAE in 2007, has franchised across Qatar, Lebanon, Oman, Jordan and Saudi Arabia. The Covent Garden site was the first Just Falafel to open in Europe.
Fadi Malas, the CEO, who has been crowned by Gulf Capital SME Awards as the “Arab Entrepreneur of the Year” for 2012, commented that the business aims to establish 200 more branches in the UK over the next five years.
Richard Grossman comments – “in our line of work we see a lot of new food operations, but few excite us as much as Just Falafel which we feel will be a great addition to the UK restaurant landscape, with an innovative offering, superb branding and significant franchisee interest”.
As retained advisers to Just Falafel, we are looking for A3 or A5 sites offering from 750 sq ft to 1,500 sq ft in high footfall locations throughout London and major UK cities. We are particularly keen to secure sites within or alongside transport terminals.
Please contact Theo Benedyk or Richard Grossman with opportunities.
Busy in the Royal Borough of K&C
Lewis Craig continue to maintain a strong presence in Kensington with recent activity across all of our departments.
Our professional team have been involved in rent review negotiations on behalf of our client Trailfinders at 194-196 Kensington High Street and on Jeeves Dry Cleaners premises at 271 Kensington High Street.
On the agency side acting on behalf of Rohan we have now disposed of their leasehold interest at 204-206 Kensington High Street and arranged for a disposal of our client Barget Kitchens & Interiors lease to Savills at 67 Kensington Church Street.
Acting for retained clients we are actively seeking restaurant and café opportunities from 800 sq ft through to 2,500 sq ft in Kensington High Street and Kensington Church Street.
Our management department as always remains active in the area with a range of property under management in Kensington High Street, Abingdon Road and Earls Court Road.
We are always looking for investment opportunities in Kensington, particularly mixed-use properties, for the consideration of our retained investor clients.
For further information on how we can assist you with your requirements in the area please speak to Richard Grossman or Theo Benedyk.
Greenwich’s New High Street Parade
Lewis Craig and Kingsbury Consultants are jointly working on VFUND’s latest project.
The Creek Road development in Greenwich will provide exciting retail, restaurant and community use space within a newly developed landmark scheme in the heart of Royal Greenwich Town Centre opposite Cutty Sark DLR station.
The ground floor of the development will provide up to 1,538 sq m (16,563 sq ft) of flexible A1, A2, A3, D1 & D2 space with direct frontage onto Creek Road, arranged within 2 separate blocks, with the flexibility to sub-divide to suit occupier requirements. Servicing is provided via Bardsley Lane to the rear.
Greenwich is home to world famous landmarks, all within close proximity to the development, including Cutty Sark, The National Maritime Museum, The Royal Observatory and the Old Royal Naval College. It is situated within the heart of the Town Centre, on the A200 Creek Road, close to the junction with Greenwich Church Street and opposite Cutty Sark DLR station.
A diverse shopping and eating experience is already on offer, ranging from quirky shops, cafes and street markets through to established national retail and restaurant brands.
Being within the established leisure and restaurant circuit, plus within close proximity to numerous high profile residential developments, the scheme is likely to appeal to a range of national restaurant and retail operators, along with other specialist occupiers such as gyms.
The space will be finished to a shell and core state, and is expected to be ready for tenant fit out in the Autumn of 2014.
Just Falafel open their 2nd & 3rd restaurants in the UK!
Following the success of Just Falafel’s first UK restaurant in Covent Garden, we are proud to announce that our client has now opened their second and third restaurants in London, in Baker Street and Hammersmith Broadway Shopping Centre.
Both Charing Cross Road and Croydon are well underway, with openings due shortly!
Just Falafel is a superb operation launched in the UAE in 2007, with over 35 restaurants trading globally, and is keeping with the trend of more and more people on the move looking for a healthy alternative to fast food!
Many more locations are now required within high footfall locations, and busy hubs of Central London.
A3 or A5 required, with a minimum 750 sq ft at ground floor preferred.
Please get in touch with Theo Benedyk or Richard Grossman at Lewis Craig with any ideas!
Biothecare Estetika open in East Sheen, Richmond!
As we begin to peel those winter layers off and t-shirt weather just around the corner, Lewis Craig are delighted that our client Ernesto Moreno of Biothecare Estetika has opened his first premises in a superb location in East Sheen, Richmond approximately a 2 minute walk from Mortlake Station.
Biothecare is a non-invasive beauty clinic and the leading aesthetic centre in Europe with more than 180 centres worldwide. Lewis Craig are pleased to be involved with such a strong beauty brand with more Biothecare stores required!
Address: 50 Sheen Lane, London. SW14 8LP
Ernesto has exciting plans for London and we are now actively seeking to secure additional locations in good secondary parades in West London, South-West London, and the West End, offering space between 800-1,500 sq ft.
Please call Ben Pistol (020 7009 0485) with opportunities, or for further information on our client’s requirement.
Burger Kingsway
Our client Karali Group have this week opened at Kingsway in a superb location, alongside the recently opened Wagamama, opposite Holborn Station close to the junction of High Holborn. Lewis Craig acted for Karali in the negotiating process.
Karali now operate over 60 Burger King restaurants throughout the UK. We are actively seeking more Central London opportunities like this, alongside or very close to Underground and Mainline Stations. This being in addition to our client’s requirement for drive-thru, high-street and food-court opportunities nationwide.
Devon & Devon open their Westbourne Grove showroom
Devon & Devon, the world-renowned specialist bathroom supplier, have recently opened their doors at 77-79 Westbourne Grove, London W2. The premises have a superb double-front and comprise some 2,100 sq ft over ground and basement.
Devon & Devon have existing representation in key cities such as Bucharest, Chengdu, Hamburg, Istanbul, Nice, Paris, Tel Aviv, Warsaw and Vienna, and in Italy in Florence, Milan and Turin.
Lewis Craig have managed the parade on behalf of our client, Sandpiper Securities Limited, for over 20 years.