Development Securities (DevSec), Morley Fund Management and Insight’s have signed up another restaurant for their 1.6m sq ft PaddingtonCentral development.
Yakitoria, a Moscow-based Japanese restaurant chain, has chosen the site for its first UK venture.
The 8,660 sq ft restaurant will be operated by Association Vesta Center International, which has signed a 25-year lease on the restaurant at a rent of £135,000 pa.
Yakitoria and its sister restaurant Gin-No Taki have 2,000 outlets worldwide.
“Yakitoria is one of our most popular restaurants and we are very excited about our first UK venture opening at PaddingtonCentral,” said Dmitri Bureychenko, director of UK Operations at Association Vesta Center International.
“We are planning to open between three and eight restaurants in London, serving traditional style Japanese food but with a strong European influence, such as sushi & rolls to soups, grill dishes, yakitori and teppan yaki.”
DevSec project director Wally Kumar added: “Yakitoria follows the signing of the gastro pub The Union in January, and is the second major letting of several that will be completed in coming months.
“It’s a very exciting time at PaddingtonCentral and these new lettings are just in time for summer, ensuring that local residents and office workers have a choice of restaurants and shops.”
Additional recent lettings at PaddingtonCentral include salad bar Tossed, and Suvaris dry cleaners. The Union, which is currently being fitted out in one of the scheme’s canalside units, will open in later this month.
Davis Coffer Lyons and Dalgleish advised DevSec.
References: EGi News 04/05/05
