LONDON (dpa-AFX) - The GHS Limited Partnership (GHS), one of Great Portland Estates plc's joint ventures, announced that it has let the 9,350 sq ft restaurant in Grade II listed 20 Hanover Square, W1, to Colonial Property Co., for a New England inspired concept across three floors of dining and social gathering.
GHS Limited noted that Colonial has agreed a 20-year lease at an initial minimum rent of £600,000 per annum, plus a turnover top-up. Further, Colonial received a 24 month rent free, plus a landlord contribution of £600,000, paid following completion of the fit-out.
The restaurant encompasses three levels, ground and two lower ground floors with a 1,100 sq ft raised external terrace overlooking the newly created 8,400 sq ft Medici Courtyard.
Marc Wilder, GPE's Leasing Director, said, 'We're delighted that Colonial has chosen our world class Hanover Square development to open their first UK restaurant. The New England cuisine style and opulent fit out will combine to create the most exciting eating and drinking destination in the heart of Mayfair. We are also encouraged by the continuing strong occupier interest across a high proportion of the total remaining space within the scheme'.
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