Richard Caring snaps up prime Mayfair site
A prime restaurant site in Mayfair has been acquired by Caprice Holdings, run by restaurant tycoon Richard Caring.
Located on North Audley Street opposite Roka, the 6,132sq ft site will feature a 120-cover restaurant which is expected to open in summer 2016.
Lesiure agent Restaurant Property, which last year sealed the deal on Caring's Sexy Fish, also in Mayfair, is also behind this latest acquisition. The property commands a rent of £325,000 per annum and a seven-figure undisclosed premium. Its lease runs until March 2024.
The new restaurant will replace Princess Garden, a Pekinese cuisine and dim sum restaurant.
David Rawlinson, founder and agency director of Restaurant Property, said: "Sites of this calibre with great prominence don't come often on to the market in Mayfair and we had a highly competitive situation on our hands despite the short lease length."
CBRE acted for Caprice Holdings.
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