St Christopher’s Place welcomes two new F&B tenants

St Christopher’s Place, the Central London estate owned by Columbia Threadneedle Investments’ Balanced Commercial Property Trust (BCPT), is set to welcome two new food and beverage operators.

Sunday in Brooklyn, a modern American restaurant that serves brunch and dinner, has signed for a lease at 10/12 James Street and 13/14 Gees Court.

The operator will occupy a newly-created anchor unit running from James Street to Gees Court, which will look to revitalise two entrance points to the estate. A full fit-out of the unit is currently underway with an opening expected imminently.

BCPT has also exchanged an agreement for lease with Noreen, a new Middle Eastern restaurant concept, at 28-32 St Christopher’s Place, a double-fronted unit in the heart of the estate.

In addition, Spanish restaurant and bar concept Bar Kroketa and Latin American-inspired all-day dining concept Morena have both agreed new leases.

St Christopher’s Place comprises 172 lettable units and 40 buildings diversified across the retail, leisure, residential, and office sectors.

Over the past 12 months, BCPT has shifted the tenant mix by repurposing retail units to place F&B operators at the heart of the estate’s offering. Between March 2023 and March 2024, the estate’s exposure to the F&B sector grew from 32% to 42% by capital value, and BCPT says that further F&B lettings are in the pipeline.

BCPT said its investment manager believes that the estate’s focus on F&B will drive investment fundamentals with superior rents, longer leases and improved capitalisation rates, while also enhancing the consumer experience and occupier dynamics of the estate.

BCPT has also exchanged an agreement for lease with Noreen, a new Middle Eastern restaurant concept, at 28-32 St Christopher’s Place, a substantial double-fronted unit in the heart of the estate. In addition, Bar Kroketa, a Spanish restaurant and bar concept, and Morena, an all-day dining concept with a Latin-American inspired menu, have both agreed new leases.

Richard Kirby, fund manager of BCPT, said: “The F&B sector has proven itself to be highly resilient in recent years and an increasingly attractive sub-sector of the market for investors. The Company’s flagship asset is well-positioned to take advantage of these trends. St Christopher’s Place endured a challenging time during the pandemic but I am pleased to see the buoyant levels of activity at the estate, signalling the estate moving from recovery into a growth phase.”