Fernandez & Wells, the speciality coffee shop group, has vacated its debut site, in Lexington Street, Soho, blaming dramatic increases in rent.

The now four-strong group, which also blamed dwindling local customers, due to fewer offices and more high-end brands coming into Soho, will concentrate on its larger all day A3 concept which they ran at Somerset House.

The business was founded by Jorge Fernandez, a former manager at Monmouth Coffee, and Rick Wells, a former BBC journalist.

The ground floor shop on 43 Lexington Street has been let to eyewear boutique Oliver People.

Wells said: “After just over a decade of service, the original Fernandez & Wells site at 43, Lexington Street in Soho, is to close at the end of the month. For many this might come as a shock and we will all be sad to see it go. The reality is though that Soho is ever changing and while rents and rates have risen, our local customer base has dwindled, with more high-end brands moving in and offices full of hungry and thirsty workers moving out.”

The group’s nearest store is 10 minutes away in Denmark Street.