The Real Eating Company, the Brighton-based group, has sold its Hove-based restaurant as it rationalises it estate to focus on the café and deli side of its business.
The four-strong group, which recently closed its Witney site, has disposed of the leasehold interest in a ground floor unit in Brighton to Patisserie Valerie, the Risk Capital-backed upmarket cafe operator.
A premium was paid for the assignment of the 15-year lease, which runs from August 2003, at a passing rent of £37,000 per annum exclusive. Davis Coffer Lyons brokered the deal.
The sale of the Hive site leaves Real Eating, which is led by managing director Helen Hudson, with three café and delis in Bournemouth, Chichester and Horsham, plus a restaurant in Lewes.
The deal, brokered by Davis Coffer Lyons, sees the firm take the ground floor on a four-storey building from former occupier, Brighton-based restaurant and coffee shop the Real Eating Company, which is rationalising its portfolio to focus on its café and deli business.
