Miroma Leisure Acquires New Site in Fitzrovia
June 3, 2012
Davis Coffer Lyons has secured the leasehold interest of the former Nordic Bar at 25 Newman Street in Fitzrovia, London W1, to multiple bar operators, Miroma Leisure.
The 1,500 sq ft property at basement level only, was assigned at a passing rent of £40,000 per annum on a lease expiring in September 2025.
Jonathan Moradoff, Associate Director at Davis Coffer Lyons, said, Newman Street is home to many media and TV production offices, and a thriving local population bolstered by guests at the opposite Sanderson hotel. Thus this was a quick sale for a very desirable site which commanded a robust premium for the lease. The restaurant market in this part of central London is more exciting and desirable as it has ever been; Charlotte Street and Goodge Street historically offered the most popular pitches for leisure property in Fitzrovia, but with the redevelopment of the Middlesex Hospital amongst other improvements nearby, and with good A3 stock in such short supply, there is increasing demand for units across a much broader perimeter.
Davis Coffer Lyons represented Nordic Bar.