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

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

Share This Post

Post Comment