Leela Group, the operator of luxury hotels in India, is understood to have acquired Serafinos in Mayfair for a significant premium with plans to open a modern European concept at the site.
The group, which operates eight luxury hotels across India, is though t to have invested around £2m in acquiring the restaurant. It currently operates the Le Cirque European restaurant at its New Delhi hotel.
Serafinos is seen as a Mayfair institution after being in Mount Street for over 40 years.
David Rawlinson, director of the Central London leisure specialists Restaurant Property, who brokered the deal off market, said, ‘The deal took two years to complete, but we achieved an excellent price for the site. The demand now for Mayfair is unprecedented and it’s the fourth large premium deal we have done in Mayfair in the last month.
M&C Report – 28th May 2013