With the London restaurant market booming there seems to be a new issue in gaining ground. As Estate Gazette’s latest article points out, there is a struggle for first timers to get a foot in the restaurant’s door.
Our head of Retail & Leisure, David Toubian, was asked to comment on the subject for this week’s Estates Gazette. In an article entitled Food Fight he describes the problems restauranters are facing when looking for space.
“The problem is that imaginative new restaurants with financial backing, good turnover and great reviews are all very well but, in the end, landlords tend to prefer long-established covenants.A Starbucks, for example, will normally trump the most fashionable new restaurants, not because it will necessarily trade better, but because the brand will increase the capital value of the landlord’s building.”
David does however point out that this is not the case for all landlords, after all we get fantastic instructions from a whole host of independent outlets. Looking at our past Retail & Leisure deals shows a host of upcoming brands that have found their way into prime locations such as the new and exciting Fornata in Shaftsbury’s Kingly Street.
To see what is available currently check here.