Fraser Bond, London’s authority on prime commercial and leisure property, presents this guide for restaurateurs, café entrepreneurs, landlords, and investors considering leasing a café space around Covent Garden Piazza, WC2. High visibility, prestige, and footfall make this one of the most sought-after areas, but the costs and commitments are equally high.
Covent Garden Piazza is one of London’s most iconic and tourist‑drawn precincts, anchored by street performers, theatres, luxury shopping, and year‑round event footfall. This gives cafés tremendous exposure and branding opportunity.
The area enjoys excellent transport links (Covent Garden, Leicester Square, Charing Cross), meaning easy access for staff and patrons.
Units overlooking or very near the Piazza often have significant heritage value, attractive frontage, and strong signage potential, all adding to customer draw and premium pricing.
While exact rents vary depending on size, frontage, condition, and lease terms, here's what recent data and Fraser Bond’s market insight suggest:
| Size & Position | Approximate Rent / Rate | Key Cost Drivers |
|---|---|---|
| Small café unit (ground floor, modest frontage, off‑main Piazza) (~500‑800 sq ft) | From about £50,000‑£80,000 pa | Smaller frontage & lower footfall moderate rent |
| Medium café with prime frontage near/overlooking Piazza or major walkways (~800‑1,500 sq ft) | £100,000‑£200,000+ pa | Premium location, visibility, signage, high footfall |
| Larger spaces with basement and full fit‑out, or dual frontage | £250,000‑£400,000+ pa | Higher rates of service charge, business rates, conditioning |
| Short‑term/pop‑ups or kiosks | Variable; may be seasonal or daily hire; costs per square foot very high | Temporary permits, limited use, often higher per sq ft cost |
Other costs to budget for:
Fit‑out / refurbishment: kitchens, extraction, ventilation, décor
Business rates and service charges: among the highest in London’s West End
Lease type: Full Repairing & Insuring (FRI) leases are common—expect tenant to cover many ongoing obligations
Permits, licenses, and compliance: for food & beverage use, outdoor seating, signage, noise, hygiene etc.
Long leases (often 10‑20 years) are standard for café spaces in the Piazza area, with break clauses negotiated.
Rent reviews: usually every 3‑5 years; may be upwards only.
Permitted uses: Café vs Restaurant vs Retail with food; sometimes restrictions on evening hours, external seating.
Heritage / conservation constraints: Many buildings are listed or within conservation areas; façade alterations, extraction ducting, signage require planning and maybe heritage consent.
Fit‑out requirements: extraction, damp proofing, waste disposal, grease traps, commercial kitchen installation.
Factoring all costs, a prospective café lessee in Covent Garden Piazza should expect to budget:
Rent deposit and advance payments (often 3‑6 months)
Fit‑out / kitchen & ventilation equipment (could run into hundreds of thousands depending on size)
Furniture, fixtures, fittings, décor
Legal / survey / letting agent fees
Working capital for first 3‑6 months of operation (staff, stock, marketing, utilities)
At FraserBond.com, we support clients looking for café leases in Covent Garden Piazza via:
Shortlisting of available units matching size, frontage, and budget
Assessing rental values, lease proposals, and negotiating favourable terms
Assistance with business‑use planning, license applications, fit‑out planning and compliance
Projections of revenues vs costs, break‑even analysis, and financial risk modelling
