Investment of renowned Criterion Restaurant Sold
November 2, 2013
The long leasehold interest on the Criterion Restaurant on Londons iconic Piccadilly Circus has been sold by Coffer Corporate Leisure – on behalf of White Star Lines Ltd – to Criterion Asset Management Ltd for an undisclosed sum.
The restaurant established in 1874 and formerly run by Marco Pierre White – is let to Vox Restaurants. The freehold is owned by The Crown Estate.
Mark Sheehan, Managing Director at CCL said: Our understanding of the specific demand for restaurant property in this location enabled us to identify value and likely purchasers with a very quick targeted campaign to agree a transaction quickly.
Whilst many foreign investors are ploughing their money into Central London there are certain buyers with a unique understanding of London that fully understand a specific location and know how they can add value to an asset. Criterion Asset Management – which owns other properties nearby – does just that.