Cote, the French bistro chain, has announced further expansion plans with the acquisition of a sixth site in London, bringing its current number of outlets up to seven.
The premises in Hay’s Galleria, near London Bridge, will be Cote’s seventh outlet since launching in August 2007 in Wimbledon Village. Founders Andy Bassadone and Chris Benians, the former management team of Strada, secured a deal in the region of £1m for the site through Davis Coffer Lyons (DCL) who structured and negotiated the deal.
Brandon Elmon of DCL said: "A consideration close to seven figures was paid for the lease, which is terrific statement in today’s market demonstrating that the best sites are still commanding substantial premiums.”
The restaurant chain, based on the Parisian bistros popular with the French, has instructed DCL to continue looking for sites both in London and nationwide to expand the brand.
The company`s sixth site, and first outside the capital, is due to open in Horsham, West Sussex in May. As well as Wimbledon Village, its London sites currently open are in Soho, Covent Garden, Richmond and Kensington.