Home of Park Chinois sold for over £42m

The freehold of the Berkeley Street site has been purchased by an overseas family, who wish to remain anonymous.

They have also acquired the company which owns the residential units on the upper floors.

High-end dim sum restaurant Park Chinois opened in 2015 and is the brainchild of Yau. He also founded Wagamama as well as the Hakkasan and Yauatcha restaurant groups – which were sold for £30m in 2008.

“We wish the purchasers the best of luck with their new acquisition and look forward to seeing Park Chinois continue to thrive," says Ravi Goonesena, corporate partner in the London office of Shakespeare Martineau - which advised the buyer on the deal.

“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.