MKR Property, acting on behalf of The Stockwell Continental have negotiated a lease assignment to Venezuelan restaurant and bar operator, Arepa & Co.
Given the confidential nature of the sale, MKR Property were tasked with securing a buyer for the restaurant without going to market. Having approached a dozen or so operators it was evident that there was strong interest in the property and following a competitive bidding process, a premium in excess of asking price was achieved.
Arepa & Co will be opening at 169 South Lambeth Road in June and this will be their third site within London.
Propel News Briefing 13th April 2022:
London-based Venezuelan restaurant concept Arepa & Co is to open its third site in the capital, in Stockwell, Propel has learned. The concept is to take on the Stockwell Continental site in South Lambeth Road, which is set to close this month, with an opening planned for later this summer. Husband and wife Gus and Kathe Salguero launched the concept in Haggerston in 2014, offering the flavours of their native country. They opened a second restaurant in Paradise Row, Bethnal Green in 2018, with new dishes rooted in Venezuelan cuisine but influenced by the wider South American region, alongside a selection of cocktails. Stockwell Continental owner Charlie Bousfield also operates the Canton Arms pub in Stockwell. Marc Rogers at MKR Property acted on the Stockwell deal.
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