William Pears has signed Carluccio’s to occupy the entrance of The Spires shopping centre in Barnet, north London.
The restaurant chain has agreed a 25-year lease on the 3,500 sq ft store. The quoting rent is believed to be circa £100,000 pa.
William Pears bought The Spires, which is anchored by Waitrose, last year for £31.2m – an 8% yield. The investor is now looking at a series of asset management initiatives to bolster the tenant line-up.
Kelion Sworn acted for the tenant; GCW and AGL have recently been appointed joint letting agents.
