Timberyard in Soho Changes Hands
February 8, 2018
On behalf of Timberyard, the US-inspired ‘working cafe’ concept, leisure property specialists Davis Coffer Lyons has completed a deal at 2-4 Noel Street in Soho to The Daisy Green Collection, the all-day restaurant, bar and coffee group. The deal is a leasehold assignment for the remainder of the ten year lease from 2015.
Rob Meadows, Director, Agency and Leasing, Davis Coffer Lyons, said, “The sale will allow Timberyard to focus on new opportunities and the new site in Facebook headquarters in Fitzrovia – under a new concept ‘TYCollab’; its site in Seven Dials. The founders are very focused on steering their business model towards new creative initiatives, particularly those centred around corporate social responsibility.
“It was a complicated deal subject to planning, but the successful outcome shows that new A3 planning is possible and there are always opportunities for operators and landlords to explore deals like this with the right advice.”
This will be the first opening for The Daisy Green Collection since it secured a new debt finance deal worth £3.4m at the end of 2017, when it stated plans to open six additional sites by 2020. The eight-strong group plans to reopen the 4,000 sq ft Soho site in the Spring, following a successful change of use planning application.