It is thought that Wahaca has paid a significant increased premium for the site of over £150k which the Marlon Abela-led MARC acquired last year with plans to open its fifth site in the capital.
The site on Charlotte Street was part of a package of 28 Paramount Restaurants placed on the market near the end of 2010.
It is thought that MARC, which operates the Michelin-starred Greenhouse and Umu restaurants as well as private members’ club Morton's, plus Cassis in South Kensington, acquired the leasehold interest of the site for a premium of £950k
It is believed that MARC took the decision to sell the site in order to focus on the high-end of the restaurant market, concentrating its efforts going forward on Mayfair.
As a result, the group is in the process of securing a site in Mayfair to open its first UK A Voce, its highly successful Italian restaurant, which currently has two branches in New York, both with Michelin-stars.
Wahaca will look to re-open the site later this year.
The chain hopes to gradually build an estate of between 15 and 20 restaurants within Greater London.
Coffer Corporate Leisure is thought to have advised on the deal.
This story was first published by M&C Report . To subscribe to M&C Report contact Emily Croft on 01293 846578 or email emily.croft@wrbm.com .
