In 2010 Paramount Restaurants instructed Christie + Co to advise on the disposal of a portfolio of 37 sites operating under the Brasserie Gerard, Chez Gerard, Caffè Uno, Bertorelli, il Bertorelli and Livebait brands. Occupying prime town and city centre locations, these sites were some of the best quality restaurants to come onto the market in over two years.
Using Christie + Co’s sector expertise, contacts and national network, multiple bids were received on the majority of the restaurants from a wide range of interested parties, after a discreet and targeted marketing campaign. Christie + Co sold the leasehold interests of 28 of the company’s non-core assets, with all but two sites acquired by established corporate operators.
The sites were acquired by 12 different parties, with 26 bought by established corporate operators, including Tragus, Gondola Holdings, Prezzo, Giraffe, Costa Coffee and Busaba Eathai, whilst the remaining two sites were sold to individual private buyers.
The average price paid for each restaurant was in excess of £250,000, whilst geographically the spread was six in Central London; 10 inside the M25; and 12 throughout the rest of the UK.
Recent corporate activity includes:
Some of our most recent valuations and professional cases include:
- The Restaurant Group – Instructed to market three freehold restaurant sites in the south of London
- Brunning & Price – Retained agents in seeking further fine dining pubs around the Home Counties and Manchester area
- Davy’s – Ongoing disposals of sites in London
- S&M Café – Successful disposal of 3 sites in Portobello, Leadenhall market and the 02 Greenwich
- Travelodge – New lessees found for three roadside restaurants
- Real China – Purchase of former bar site in Bexleyheath from TCG
- Thames Luxury Charters – Acting on the sale of the Dixie Queen paddle steamer and other function boats based on the River Thames
- Advisory work for Paramount Restaurants.
- Valuation of 7 quality venues for London fine Dining Group.
- Advisory and valuation work for Med Kitchen.
- Valuation of 154 Little Chef Restaurants.
- Advisory work in relation to the former Cipriani.