Sale of Criterion Restaurant Investment
January 15, 2014
Coffer Corporate Leisure has sold the long leasehold interest on the Criterion Restaurant on London’s iconic Piccadilly Circus has been sold by Coffer Corporate Leisure – on behalf of White Star Lines Ltd – to Criterion Capital 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.”