Legal & General Property and Mitsubishi Estate Company have exchanged contracts with the first four restaurant operators at the partnership's Renzo Piano-designed, mixed-use development Central Saint Giles in London's West End.
Peyton & Byrne is operating unit 11, on a 10-year management contract. The cafe consists of 1,482 ft² (approx. 138 m²) on the ground floor with a 696-ft² mezzanine. Bincho is taking a 15-year lease on unit four which comprises 1,884 ft² of ground floor space and a 1,884-ft² basement. Sofra is taking a 25-year lease on unit three which consists of 1,861 ft² on the ground floor and a 2,038-ft² basement. Ask Restaurants Limited is taking Unit 10 for its Zizzi brand on a 25-year lease. It comprises 3,353 ft² on the ground floor and a 876-ft²basement. Rents were not disclosed.
Central Saint Giles was praised by Paul Finch, Chairman of architecture watchdog CABE as "one of London's great commercial buildings, setting the standard by which office architecture should be judged." The Central Saint Giles Partnership is being advised on the leisure element of the mixed-use scheme by Knight Frank and Restaurant Property.
Senior partner of Restaurant Property Jason Grant said: "It has been very exciting working with a client, and a visionary architect, who are both so determined to create a new vibrant place. They have deliberately chosen specially selected restaurants round one of London's finest piazzas to be a key element of this strategy."
Knight Frank partner Tracey Pollard said: "The creation of the new central piazza and the ability to offer external seating has been a huge draw. There are very few locations in Central London where you have such a breadth of offer, at different price points, and where all of the restaurants benefit from external seating."
Source: MJ2 Ltd