Commercial Property News
Image default
London Property News Office Property News UK Property News

The Restaurant Group Completes Sales and Leaseback of Marshalsea Road

The Restaurant Group (TRG), owners of Wagamama and Frankie & Benny’s, have completed the sale and leaseback of its London headquarters in a multi-million-pound deal.

As revealed by Commercial People in June, TRG were advised by the global real estate advisor CBRE to find a suitor for the Southwark prime office.

David Fraser, Senior Director, Central London Investment, CBRE commented: “Southwark is one of Central London’s best performing submarkets, with strong occupier fundamentals that attract a diverse tenant base. The appeal of the location coupled with the strength of the income profile at 5-7 Marshalsea Road has supported robust appetite from a range of buyers, despite investment volumes being down on the previous year.”

The prime freehold office building on Marshalsea Road was bought by an unnamed Japanese buyer for £27m. Upon completion of the sale, the property will be let in its entirety to TRG for a term of 10 years.

Estate agents Knight Frank advised the purchaser.

Related posts

Newly Refurbished Manchester Office Attracts New Occupier

Dominic Gabriel

South Bristol Warehouse Undergoes £500,000 Refurbishment

Dominic Gabriel

Grade II-Listed Victorian-era Hotel Heads to Auction

Dominic Gabriel

Leave a Comment