MOD Pizza puts flagship Leicester Square restaurant on the market
The ‘build your own’ pizzeria group has appointed Savills to market the leasehold interest of the site on 17-18 Irving Street after less than three years of trading.
MOD Pizza was launched by Seattle Coffee Company founder Scott Svenson in 2008 and is one of the fastest growing chains in the US, with over 390 locations.
It made its international debut in Leeds in 2016 and has since grown to 10 UK restaurants.
However not all sites have been successful. MOD Pizza's restaurant in Brighton Marina has closed and exiting Leicester Square will mean the group no longer has a presence in the capital.
The 5,007 sq ft London site, which opened in 2016, includes six one-bedroom apartments on the second, third and fourth floors. Fellow US import Halal Guys opened its debut UK restaurant next door in April.
“This [site is] a highly attractive prospect for operators so we anticipate receiving strong interest,” says Stuart Stares, of Savills’ licensed leisure team.
MOD Pizza said Tuesday it has raised a further $160m (£126m) in a financing round in the US, which it will use to grow to around 1,000 locations over the next five years.
