The Mayfair building which houses Alan Yau’s Park Chinois restaurant has been sold for over £42m.
The freehold of the Berkeley Street site, as well as the residential units above, has been acquired by an unnamed foreign investor.
The high-end dim sum restaurant opened in 2015.
Mark Sheehan, managing director of Coffer Corporate Leisure, which acted on the deal, said: “This sale is one of the largest single restaurant investments sold anywhere in the world. Investor demand for such investments is very strong. Overseas investors are particularly interested in well known operations such as this in world renowned locations.”
Ravi Goonesena, corporate partner in the London office of Shakespeare Martineau - which advised the buyer on the deal, said: “We wish the purchasers the best of luck with their new acquisition and look forward to seeing Park Chinois continue to thrive,” says
“Park Chinois is an iconic institution on the London luxury restaurant scene and this significant sale is evidence that high-end venues in the West End leisure and retail market continue to provide an attractive investment opportunity, despite relatively low yields.”
Solicitors K&L Gates acted for the vendor.