Expanding Mexican brand Chilango has secured through Davis Coffer Lyons – the leisure specialists – the former Great Wall of China Restaurant on Tooley Street near London Bridge for a premium of £350,000.
This is the tenth site for the expanding brand and the second since it secured £2m of funding through a mini bond issue – conducted through UK crowdfunding website,Crowdcube – last summer (August 2014). Chilango has taken the prominent 1,800 sq ft unit on the remainder of a 20-year lease at a rent of £100,000.
Rob Meadows, Associate Director at Davis Coffer Lyons said: “London Bridge is immensely popular and there was intense competition for this site. We successfully negotiated the assignment on behalf of Chilango. The real benefit is that the station will exit immediately opposite once further re-development work has completed. In addition, the retail landscape has now been fixed here and I don’t expect much new space to be created in the immediate vicinity. In short, this is a unique location and it took three years to negotiate the deal.”
Eric Partaker, Co-founder of Chilango added: “This is a truly epic location for Chilango. We’ve built Chilango to deliver world-class food, head-to-head with the UK’s top brands, in some of the most competitive trading environments. As such, our new More London location fits the bill perfectly. We look forward to putting smiles on the faces of More London’s hungry workers and visitors very soon.”
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