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London sees ‘rise of the residency restaurant’ as short leases abound

London landlords are becoming increasingly nervous about signing restaurants up for long leases following several high-profile closures, according to a leading property expert.

Camilla Topham, director at property consultancy firm Distrkt, says site owners are looking at short-term lets as a means to avoid the negative PR of a restaurant’s failing.

Speaking at Restaurant magazine and MCA’s Generation Next conference, she said: “Landlords have seen a lot of failures in their estates, so there’s a nervousness around new concepts.

“The negative PR of letting a site as a permanent restaurant and having it fail has a big impact. They’d almost rather not re-let that property and leave the site vacant.” … click link below to read full article.

Source: Big Hospitality

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