Chez Gérard raises £5m to expand
26 June 2000
Restaurant chain Chez Gérard has raised more than £5m through two sale-and-leaseback deals on its properties in London's Charlotte Street.
The 86-seat Chez Gérard at 8 Charlotte Street was sold for £1.15m and leased back on a rent of £90,000 a year. The 100-seat Bertorelli's at 19-23 Charlotte Street was sold for £4m and leased back at £285,000 a year. Both leases will run for 25 years.
The proceeds of the transactions will be used to fund expansion of the Chez Gérard group nation-wide.
