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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.

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