Wild Honey site sold for six-figure premium
The 2,267 sq ft unit on St George Street has been taken on for a rent of £103,000 per annum and a six-figure premium, which is undisclosed.
Restaurant Property advised on the deal but would not reveal the identity of the new owner.
Demetre closed Wild Honey in March after 12 years in business, before relocating the restaurant to the Sofitel London St James.
“Whilst we have seen premiums reduce over the last year, we are still seeing strong demand from international operators who are taking advantage of the cheap pound, as well as experienced operators taking this opportunity to acquire otherwise very hard-to-find prime sites,” says David Rawlinson, founding director at Restaurant Property.
Demetre co-founded Wild Honey in 2007 with his former business partner Will Smith.
The pair also ran Michelin-starred Arbutus in nearby Soho for 10 years until 2016, when it shut and Smith moved to Scotland. It is believed high Soho rents were part of the reason for the closure.
