The Penny Drop, the Melbourne-based café concept, is to make its UK debut after securing a site in central London.
The company will open this summer on the former arts & craft shop situated on the corner of Tottenham Street and Whitfield Street in Fitzrovia.
The new café will be arranged over ground floor and basement levels with additional seating at the front spanning over a total area of 860sq ft.
The site was acquired by way of a leasehold assignment with the building being owned by Pearl & Coutts.
Taylor Gershon, leisure property consultant at Charles Benjamin Associates, which acted on the deal,said, “We are finding many clients, both new and established operators, looking to secure premises in various Fitzrovia locations. We believe a surge in such behaviour is primarily due to what are perceived as extortionate rents within other high profile Central London village locations. This combined with an abundance of vastly re-developed and soon to be developed schemes taking place make the area an extremely attractive proposition.”