28 February 2017, London: Aprirose, the real estate investment company, has appointed Knight Frank and Savills to sell its iconic Grosvenor Victoria Casino. The 71,138 sq ft casino is being marketed at c. £70 million.
The Grosvenor asset is operator Rank Group’s flagship casino, part of their wider portfolio of 55 locations throughout the UK. Rank holds the lease until 2026.
Located on the Edgware Road, the casino is in a prime West End location, attracting approximately 1,400 customers per day.
The casino, which is dubbed ‘The Vic’ is one of the longest established in London and is home to the renowned Poker Room. One of the most iconic poker rooms in London it seats 250 players across 35 tables and hosts both high-stakes cash games and major tournaments.
Manish Gudka, Chief Executive Officer at Aprirose, said: “The Grosvenor Victoria Casino is a London West End institution that makes an attractive investment for potential buyers. We have appointed our advisers to dispose of the asset as we look to exit in line with our investment strategy at the time of purchase.”
Jonathan O’Regan, Director, Central London Investment at Savills, said: “The marketing of this asset presents an outstanding opportunity as London casinos are rarely offered to the open market. The casino sector is performing well in London and Grosvenor Casinos, the UK’s biggest brand, is an excellent covenant for this asset.”