Alula Leisure Secures First West End Site in Soho
December 21, 2011
Davis Coffer Lyons has assigned the leasehold interest of Amuse Bouche Champagne Bars on Poland Street in Soho, to new top-end restaurant and bar concept 52 North, from Alula Leisure.
52 North is expected to open at 21-22 Poland Street in January, and will offer a high-end Champagne bar and restaurant with traditional British cuisine, with a focus on the highest quality British produce including a range of English wines.
This is the first of several new ventures in the pipeline for Alula Leisure, who are currently in negotiations for several projects in the West End. Alula Leisure is headed up by directors Tim Lalic and Vahram Papayzan, who have a background in the hospitality sector in health and fitness concepts such as Oxford Mixed Martial Arts Academy (OMAA) and gyms in Oxford and Manchester.
52 North will occupy 4,000 sq ft ground floor and basement of the premises, on the remainder of a 35 year lease from 17 May 1999 at passing rent of £115,000 per annum exclusive and a substantial premium was paid. The property is located 50 metres south of Oxford Street and surrounded by independent and multiple operators including Ping Pong and Marks & Spencer.
Amuse Bouche Enterprises will continue to operate its sister site in Parsons Green, and is currently seeking additional opportunities to expand its portfolio within the Greater London suburbs.
Jonathan Moradoff, Associate Director, Davis Coffer Lyons, who acted on behalf of the former tenant, said, Soho continues to offer a rich fabric of exciting new leisure concepts entering the market and although there is always high demand, especially from overseas operators for property here, the construction of Crossrail in the vicinity has fuelled this demand further. Im sure Alula Leisure will bring something very unique to the dynamic food and beverage offer already on Poland Street.