Sale of Miller & Carter, 87 Muswell Hill Broadway, London N10
August 25, 2021
Coffer Corporate Leisure, jointly with Bidwells, has advised a private client on the sale of 87 Muswell Hill Broadway – an iconic restaurant investment for £4.375million.
The building comprises a converted 19th century church currently arranged as a high-end restaurant totalling c.8,000 sq ft. The property is let in its entirety to FTSE250 listed Mitchells & Butlers, one of the UK’s largest hospitality operators, trading under their Miller & Carter steakhouse concept.
Jack Silvani, Director at Coffer Corporate Leisure who acted on behalf of the vendor said “Confidence in the leisure sector is growing steadily and directly translating to a surge of activity on the investment side. The main restrictor of transaction volumes is now supply, not demand. Many pubs, bars, restaurants and health clubs are trading buoyantly since the final easing of restrictions and it is clear that long-term the sector will grow from strength to strength.
We expect a busy end to the year – particularly in central London which has felt the effects of COVID disproportionately – but has recovered swiftly following the removal of restrictions.”
Coffer Corporate Leisure & Bidwells acted on behalf of the vendor. Jackson Criss acted on behalf of the purchaser.