Las Iguanas Lassos New Offering in Kingston
March 28, 2011
Latin American-themed chain Las Iguanas has taken a 3,800 sq ft restaurant at The Malt House, Kingston upon Thames in Surrey. Davis Coffer Lyons secured a new 20 year lease on behalf of DTZ Investment Management at a passing rent of £140,000 per annum exclusive.
With 22 locations nationwide and working alongside retained advisors Insight Retail Consulting, Las Iguanas newest property is to be located in former office accommodation on the High Street next to Jamies Italian, and nearby Wagamama, Zizzis, GBK, La Tasca, Nandos, Pizza Express and Byron.
Josh Leon, from leisure property advisor Davis Coffer Lyons, said: Las Iguanas has reported excellent profit levels recently and we expect to see the chain actively expand its estate further in the coming financial year. We are continuing to witness vast appetite from landlords for casual dining businesses and the string of buy-outs recently for strong brands with good growth prospects is also testament to this trend which shows no sign of slowing.
Las Iguanas has continued to defy the recession, reporting total sales growth of 21% and a 60% plus increase in pre-tax profit in January 2011.
Insight Retail Consulting advised Las Iguanas. Cattaneo Commercial and Davis Coffer Lyons were joint agents representing DTZ.