Vietnamese restaurant chain Pho has announced the acquisition of a fifth site in Soho, bringing the group closer to its goal to expand to 15 sites by 2015
The chain, founded by Stephen and Juliet Wall in 2005, has secured the former Italian Graffiti site on Wardour Street through property agent Davis Coffer Lyons for an undisclosed sum.
Rob Meadows of DCL, said operators situated in Wardour Street, a location he deems as a ‘key street’ in London’s entertainment districts, generally trade well.
“We’re seeing extreme demand for the Soho area, particularly for Wardour Street with notable recent openings including, Busaba, Cote and Princi,” he said. “Sites that come on the market are few and far between.
“We secured this site for Pho in an off-market acquisition, illustrating that there is still the opportunity for well funded operators with strong concepts to secure desirable and seemingly unattainable sites.”
Expansion outside London
Pho recently opened its fourth site in Brighton , which joined the existing restaurants in Clerkenwell, Fitzrovia and Westfield shopping centre.
In February Stephen Wall told BigHospitality the pair planned to roll the Vietnamese street food concept out to cities with a similar consumer demographic to their London sites, including Leeds, Bristol, Liverpool and Manchester.