In this new monthly series, ‘Across the zones’, our London leisure agents spend some time looking at some of the best leisure and hospitality properties opening along each of London’s transport zones, beginning with zone 1.
Zone 1 is crowded with popular eating destinations, with some of the most expensive square-footage in the UK for property: £1,400 in the Covent Garden and Soho area, compared with £2,500 in Mayfair. In the last two years alone, prices in these areas have increased on average by 30 percent, driven by the huge investment and turnover by the restaurant and leisure industries.
Zone 1 is crowded with popular eating destinations.
Soho has always been a hub of restaurant activity in London, and – thanks to a continual churn of new operators investing in the Soho culture – the area’s popularity is continually growing.
Marissa and Matt Hermer have just launched the new American concept Top Dog, which takes the traditional American hot dog and improves on it with all natural ingredients, healthier options and vegetarian offerings.
Meanwhile, Alan Yau’s new “Cantonese Pub”, Duck & Rice, on Berwick Street has received excellent reviews (for its ribs and prawns in particular), and – according to Big Hospitality – Mark Sargeant has announced plans for a restaurant in Soho called Morden & Lea. It will be a quintessentially modern brassiere and provide a 62-cover service:
“Soho is the perfect location and hope that the dual-offering of a brasserie-style menu served in the upstairs restaurant and a more-relaxed casual sharing menu served downstairs, will appeal to both London foodies and visitors to the capital alike.” Our London luxury restaurant property agents suggest it is the perfect location for operators to expand on a formula that is already giving them success, with restaurateurs like Flat Iron having two openings both based in Soho.
In terms of its restaurant scene, Shoreditch benefits from being slightly out of central London. Its “East London”, creative appeal facilitates a restaurant culture that is more playful, perhaps more pop-up and artier than some central London locations.
As an example, this month sees Red’s True Barbecue expand to London for a month-long residency at The Old Blue Last pub, which will run from 4th June – 4th July. The pop-up is set to capture the theatre and creativity of a traditional American-style BBQ, in a social, summer setting in one of London’s busiest and most creative areas.
Meanwhile, in a full-blow celebration of summer, Queen of Hoxton’s rooftop beer garden has been given a complete aesthetic make-over a la Cuba. To enhance the new Cuban décor, there will be cigar-rolling classes, domino sessions, summer-time film nights and more.
With orders generally more expensive than the average Soho or Shoreditch prices, Mayfair has a reputation for expensive finesse, epitomised by restaurants like Roka. Now, West End dining and clubs tycoon Richard Caring has announced the launch of a lavish new Mayfair fish restaurant to open opposite his Berkeley Square venue Annabel’s. With an annual rent of £1.1 m, Catch of the Day is an extremely sought after site, and the new venue is set for a September opening.
Fish appears to be popular at the moment in Mayfair, as Kurt Zdesar has announced the opening of Bouillabaisse, opening on 23rd June on Mill Street. This 80-cover restaurant will delight customers with its relaxed, welcoming tone, and its ultra-fresh fish dishes. From snow crab cakes with a garlic and herb salsa, to a Bouillabaisse made with prawns, sole, clams, muscles, langoustines and lobster, this will be somewhere seafood lovers will come to know and love.
This is only a small sample of the restaurants opening over the next few months in various Zone 1 locations. If you have been inspired and would like to consider your own restaurant property investment options, speak with one of our highly experienced London restaurant property experts today.
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