Dim sum restaurant group Ping Pong to exit two London sites

02 May 2019 by
Dim sum restaurant group Ping Pong to exit two London sites

Dim sum restaurant group Ping Pong has announced its intention to dispose of two London sites in Westfield White City and Wembley's designer outlet village.

The group, which will be left with six sites, has said the locations did not suit the nature of its operation and has appointed Davis Coffer Lyons to dispose of the leaseholds.

Rob Meadows, executive director of Davis Coffer Lyons, said: "Ping Pong operates eight dim sum restaurants within its portfolio in the capital. The company has taken the decision to exit these two sites as they do not meet their current returns on capital required. Both sites are more suited to significant daytime trading which is not the core of the Ping Pong offering."

The Westfield unit is 4,900 sq ft and is held on a lease expiring in October 2034. The Wembley lease comprises 5,600 sq ft with outside seating and expires in December 2033, with a passing rent of £195,265 per annum.

The Restaurant Group appoints Andy Hornby as chief executive >>

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