Corbin & King Restaurant Group (C&K), the owner of London’s iconic restaurant The Wolseley, is in a legal battle with the freeholder of the building after getting behind with its rent.
According to court papers filed by SJT Investments, the freeholder of 157-160 Piccadilly, C&K owes around £300,000 in rent for the first floor of 157 Piccadilly.
According to the filing, the occupants first entered into the lease, which expires in 2023, in 2008. Initially, they paid £144,804 per year. By 2016 the lease had increased to around £1m per year.
Owing to the pandemic, the freeholder and leaseholder entered into a rent deferment agreement. However, according to the claim form, C&K got into further arrears on the 2020 rent, so in May SJT initiated legal action to recover £295,595 plus daily interest.
