Restaurant Property - London, Covent Garden, London

Date: 05 Feb 2010

Wild Honey Group sweet on Covent Garden for third restaurant.

Anthony Demetre and business partner Will Smith, the pair behind the Wild Honey and Arbutus Michelin Star double act which has stormed the London dining scene are to open a third restaurant in Covent Garden.

The deal is another coup for specialist leisure agent Restaurant Property which also recently advised on the off-market relocation of Gordon Ramsay's Petrus restaurant. The new 5,000 sq ft restaurant on two floors is located on William IV Street WC2 in a former Pitcher & Piano. The lease purchase price was undisclosed but is understood to be in the region of £275,000 per year.

Restaurant Property director David Rawlinson said: "We knew that this was a great location but it seemed a particularly good omen for the deal when Will and Anthony won BMW Square Meal Restaurant Of The Year Award for Arbutus the morning of our viewing in early December. We exchanged just two weeks after this."

Rawlinson who is also advising Legal & General and Mitsubishi Estate Company on their nearby Central Saint Giles development and the Grosvenor Estate in Mayfair said: "The central London restaurant market is particularly competitive at the moment. At Central Saint Giles we now have more offers than there are units to let and a new line is now forming of under bidders."

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