Asking Price
NOI Net Operating Income
Cap Rate
Asking Price
NOI Net Operating Income
Cap Rate


I accept the confidentiality agreement I accept the confidentiality agreement


Property Reference Number 100023432652
Year Built 1908
Tenure Type Leasehold
Building Area
Land Area

Property Description

Prime mixed-use restaurant and office investment located in Covent Garden, one of London’s most renowned restaurant and theatre districts.

Investment Highlights

  • Prominent building adjacent to Leicester Square Underground station, within a short walk of some of London’s most famous landmarks including Leicester Square, Trafalgar Square and Covent Garden Piazza.

  • 95% of the gross income secured to Browns (Mitchells & Butlers), an iconic 16,046 sq ft flagship restaurant.

  • The office suite is let to Brewery Visual Effects Ltd with a passing rent of £55,000 per annum, reflecting a rate per sq ft of only £53.50.

  • Total current gross rent of £1,025,000 per annum.

  • Held long leasehold on a recently re-geared headlease for 125 years from the 20th of September 2019, at a current head rent of £51,250 per annum.

  • Total current net rent of £973,750 per annum after deduction of head rent.

  • Reversionary asset with strong opportunities for rental growth.

  • Numerous asset management initiatives, including upcoming rent reviews and restructuring the leases.

  • Offers are invited in excess of £21,450,000 (TWENTY ONE MILLION, FOUR HUNDRED AND FIFTY THOUSAND POUNDS) for the long leasehold interest in the property subject to contract and exclusive of VAT. This reflects a NIY of 4.25% and a low capital value of £1,256 per sq ft.

Last Updated Date: 21 Jul 2020
Richard Brown
Richard Brown
Director - UK Retail Investment
Frankie Maddox
Frankie Maddox
Associate Director- Retail Investment

There was an error submitting your request. Please try again, or submit you inquiry here.



Jones Lang LaSalle (JLL), together with its subsidiaries and affiliates, is a leading global provider of real estate and investment management services. We take our responsibility to protect the personal information provided to us seriously.

Generally the personal information we collect from you are for the purposes of dealing with your enquiry.

We endeavor to keep your personal information secure with appropriate level of security and keep for as long as we need it for legitimate business or legal reasons. We will then delete it safely and securely. For more information about how JLL processes your personal data, please view our privacy statement.

Last Updated Date: 21 Jul 2020

JLL  financing

JLL can help you finance and manage your portfolio.
Email us today to see how we can help achieve your ambitions.