Investment sale of Launceston Place, Kensington
July 27, 2018
Coffer Corporate Leisure has completed the investment sale of Launceston Place, an established high-end restaurant in the heart of affluent Kensington.
Set in a quaint residential area off High Street Kensington and Gloucester Road, the well-known destination venue is let to the award-winning restaurant group, D&D London, who have traded successfully from the premises since 2007. Launceston Place originally opened in 1986 and became a favourite with Princess Diana in the 1990's.
The investment sale comprised a long-leasehold interest in the basement/ground floor restaurant premises to a private investor with the price remaining confidential.
Lawrence Telford, Director Coffer Corporate Leisure said , "This well-known restaurant asset attracted substantial interest from private investors seeking a prized asset in a highly affluent location in Kensington.
"Despite the general difficulties being experienced in the casual dining sector, Central London restaurant investments remain highly-sought after due to the continued prospect of strong rental growth, aligned with typically robust trading performance by operators. Investors continue to pay extremely low yields for quality stock."
Coffer Corporate Leisure acted on behalf of the Vendor, a consortium of private investors. AG&G acted for the Purchaser, a private investor.