Briciole restaurant freehold acquired for £1.75m

August 27, 2014

London Global Real Estate has sold the freehold of 20 Homer Street in Marylebone, W1, home to Italian restaurant Briciole, to Wesley Properties for £1.75m, reflecting a net initial yield of 4.6%.

The property comprises 3,200 sq ft over the ground floor and basement and is let to The Honey Pot Pub Company for a further 16 years at a passing rent of £85,000 per annum.

Strutt & Parker acted on behalf of Wesley Properties; London Global was represented by Coffer Corporate Leisure.