Acquisition of 21 Romilly Street, Soho
November 10, 2020
Coffer Corporate Leisure has completed the acquisition of 21 Romilly Street, Soho W1 – a restaurant investment in London’s West End on behalf of a private investor.
The property, which trades as highly regarded French fine-dining restaurant Gauthier, is single-let to the current tenant on a long lease. The purchase price of £2.5 million reflects a Net Initial Yield of 3.46%.
Jack Silvani, Director at Coffer Corporate Leisure said, “Although the ongoing COVID-19 crisis has undoubtedly had an adverse effect on investor confidence, we are definitely observing an uptick in transactions as some investors begin to look beyond the current crisis. Assets which are underpinned by strong real estate fundamentals, such as the subject property, remain attractive to investors. We see value in the current market for investors willing to take long-term view”.
Knight Frank acted for the vendor, a private investor. Coffer Corporate Leisure acted on behalf of the purchaser, a private investor.