Angus Steakhouse's Piccadilly flagship put on market
The c.8,000sq ft, three-storey site on 21-22 Coventry Street is being marketed by Savills with a current rent of £1.46m per annum.
It follows reports back in March that Angus Steakhouse was on the brink of collapse as it raced to secure rent concessions from landlords.
According to The Telegraph, KPMG was hired to help secure it a rescue deal for the group, and had written to landlords asking them to forgo rental payments until trading restrictions are lifted after lockdown.
Landlords were also asked to agree to the payment of rent on a daily rate rather than quarterly once the company's restaurants have reopened.
At the time, KPMG said that while the majority of the chain’s landlords are said to have agreed to the rental concessions, there was 'significant uncertainty' whether an agreement would be reached with all of them.
Part of the Gateshead-based leisure group Noble Organisation, Angus Steakhouse currently operates five restaurants across the capital in tourist-heavy areas including Leicester Square and Oxford Circus.
All five, including the Piccadilly Circus site, have reopened since the restrictions on indoor dining lifted on 17 May.
It is not known whether any other Angus Steakhouse restaurants are set to be brought to market.
BigHospitality has contacted Angus Steakhouse for comment.
