Balans places entire estate on the market and invites 'best bids' by Friday
London-based casual dining group Balans Soho Society has placed all seven of its sites on the market, says CDG Leisure.
Balans, which opened its first site, a sandwich shop on Soho's Old Compton Street, in 1987, is being marketed by CDG Leisure with offers invited on the Ealing, Victoria, Kensington, Westfield London and Westfield Stratford sites, as well as the group's two venues on Old Compton Street.
Speaking to The Caterer, Morris Greenberg, managing director of CDG Leisure, said his company had been charged with selling the leases, licences, fixtures and fittings of the individual sites, with the Balans name and intellectual property being retained.
He said that "best bids" for each lease were invited by close of business on Friday and that since being placed on the market less than two weeks ago, there had been "a lot of interest".
"I haven't had bids yet but people will be gearing up for that this week. As for the amount, I've got no idea. Pre-Covid these sites would have gone for serious money."
CDG Leisure has worked on behalf of Balans over the years, brokering deals for the brand as it acquired and sold sites over the years. Balans also offers a private membership and became known for its modern British food and "convivial" atmosphere serving Soho drinkers until 3am six nights a week.
Balans was unavailable for comment.