Levy Real Estate advises on £6m Central London restaurant acquisition

Levy Real Estate has advise on the acquisition of a Central London restaurant unit on behalf of an overseas investor.

The property on Great Newport Street, in close proximity to Leicester Square, was acquired for just under £6m.

The asset is currently let to P.F. Chang’s, with approximately eight years remaining on the lease, and generates an annual rental income of £405,000.

The acquisition was secured at a net initial yield of around 6.00%.

Levy Real Estate said the deal highlights its expertise in identifying and securing high-quality investment assets in key Central London locations.

Portland Leisure Advisers acted on behalf of the vendor.