This website uses cookies so that we can provide you with the best user experience possible. Cookie information is stored in your browser and performs functions such as recognising you when you return to our website and helping our team to understand which sections of the website you find most interesting and useful.
News
New lease of life for Trocadero
London’s Trocadero building will host a new luxury bar and restaurant after landlord Criterion Capital granted a lease for the former Rex Club to independent on-trade operator KPIP UK.
The takeover of this venue, which comes complete with a 3am licence, marks the latest upmarket step for the tourist hub of Leicester Square after the opening of the W London Hotel earlier this month.
Describing the deal as “an extraordinary opportunity”, Jonathan Moradoff of Davis Coffer Lyons, advisor to Criterion Capital, said: “Such large sites as this are very hard to come by and we are very pleased with the rental level achieved on this unique opportunity.”
Criterion was asking for rental offers in the region of £750,000 for the 11,000 square foot site.
Moradoff outlined his vision for the project, observing: “Although in the heart of London’s club land with hundreds of thousands of people passing by every day, the area has been crying out for a new, more sophisticated premier leisure destination and this will provide it with a venue to rival other successful late-night operations in Mayfair.”
Gabriel Savage, 22.02.2011