The Evening Standard has reported that restaurant tycoon Richard Caring is building a large ‘war chest’ to finance ambitious plans to acquire and open restaurants in London’s West End.
The news follows the sale for £400 million of the Stables Market, a major part of London’s Camden Market – in which he apparently held a 25% stake. The property has been bought by a Middle Eastern investor.
At the same time, the sale of the prestigious Wentworth Club is also thought to be imminent. Wentworth hosts the annual PGA tournament, and was acquired in 2004. The sale price could be as much as £160 million for one of the world’s most prestigious golfing venues.
Mr Caring is 65 and already owns a top class portfolio of restaurants and venues that includes Scott’s, The Ivy and Annabel’s — is also on the point of selling Wentworth golf club for about £160 million.
London restaurateurs will be waiting with great interest to discover Richard Caring’s plans, which could have a major impact in a highly competitive and – some would suggest – congested restaurant scene.
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