5 May 2017, London: Aprirose, the real estate investment company, has sold the iconic Grosvenor Victoria Casino for £70 million to a private European buyer.
The property, situated in a prime London West End location, comprises 71,138 sq ft of commercial space.
The casino, located on the Edgware Road attracts approximately 1,400 customers per day. The property is one of the longest established casinos in London, and is operator Rank Group’s flagship casino. Part of Rank’s wider portfolio of 55 locations throughout the UK, the casino is home to the famous Poker Room, which seats 250 players across 35 tables, hosting both high stakes cash games and major tournaments.
Manish Gudka, Chief Executive Officer at Aprirose, said: “We are pleased to have secured the sale of the iconic Grosvenor Victoria Casino which reflects our proven strategy to provide the best returns for our investors. When an opportunity presents itself we are able to work quickly with our experienced and knowledgeable in-house team to ensure we achieve the best deal possible. The Grosvenor Victoria Casino is a prestige asset and a mark of the diversity we have within our real estate portfolio.”
Jonothan Holmes, Savills, said: “The Grosvenor Victoria Casino is an asset which provides a combination of secure, long-dated income with significant value-add possibilities, making it an attractive investment in today’s market. The prime location and flagship status of the iconic building has awarded it an elevated status and combined with being run by a prominent brand within the gaming community, generated a lot of interest from buyers and ultimately allowed us to secure a successful sale for our client.”
Aprirose was represented by Knight Frank and Savills.