Legal & General Property and Mitsubishi Estate Company are set to create a new world-class dining destination at their Central Saint Giles development in Central London. The 500,000 ft² (approx. 46,000 m²) mixed-use scheme designed by internationally-acclaimed architect Renzo Piano will create a new piazza for the West End. It will be circled by at least 10 restaurants and the main feature of the piazza will be a fully grown oak tree.
Designed by Renzo Piano, the scheme will create a new piazza for the West End.
L&G project director Simon Wilkes said: "The deals on the first restaurants have now gone into solicitors' hands and we have had more offers than we have premises available. We have received offers from a range of operators with exclusive takes on British, Italian, Mexican, Indian and Oriental cuisine."
Wilkes added: "The preference is to secure independent operators but superior multiple operators that complement the overall offer, or which provide something different may be considered providing they work with the overall mix".
Restaurant Property is joint letting leisure agent with Knight Frank on the scheme. Restaurant Property director David Rawlinson said: "The combination of a world-class landmark building and its proximity to great shopping, theaters and offices is generating intense competition to secure a spot at Central Saint Giles."
Rawlinson added: "The central London restaurant market has flared back to life so much so that operators are prepared to pay premiums again for prime sites. There is a real sense of urgency back in the market for the best sites in Mayfair, Soho, Covent Garden, Knightsbridge and Kensington.
Wilkes said the target is to have all the units open to trade by April 2010.
Source: Brown Lloyd James Financial