Proof, if proof were needed, that money can still be made out of London restaurants comes with today’s news that Alan Yau has sold a majority interest in the two trendiest Chinese restaurants in town – Hakkasan W1 and Yauatcha W1 – to Tasameem, part of the Abu Dhabi Investment Authority.

The consideration was no less than $60m (some £30m). Mr Yau remains ‘on board’, and the intention is apparently to roll the concepts out worldwide.

Hong Kong-born Alan Yau first came to public attention in the 1990s as co-founder of Wagamama. He sold out from that enterprise in 2001, and it has subsequently changed hands several times,

More detail in today’s Times.