Palms Of Goa Changes Hands on New Cavendish Street
October 18, 2012
Davis Coffer Lyons Agency team has assigned the leasehold interest of Palms of Goa restaurant, 160 New Cavendish Street, London in Fitzrovia, W1 for a premium of £100,000 to a private operator.
The 1,450 sq ft A3 premises over ground floor and basement are located adjacent to the former Middlesex Hospital site, currently under development by Exemplar, and opposite the University of Westminster. The passing rent is £27,500 per annum for the lease which expires in June 2018.
Jonathan Moradoff, Associate Director at Davis Coffer Lyons who acted on behalf of Palms of Goa, said, Fitzrovia is increasing popularity for new operators at a incredible rate. Whilst the southern end of Charlotte Street has a long-established reputation, Goodge Street has historically marked a dividing line for values north and south along Charlotte Street. However, with Goodge Street itself now an enormously successful food and drink destination, and with the redevelopment of the Middlesex Hospital amongst other improvements nearby, there is increasing demand for units across a much broader perimeter.
Palms of Goa continues to operate two existing sites on nearby Charlotte Street, having recently sold another existing site on Meard Street, W1.