Trocadero plc, the leisure group which owns the landmark Trocadero complex at Piccadilly Circus, has bought a chain of five “late night” bar/restaurants in London’s West End for £10.5m. The group plans to expand the chain across the country.
The chain of ‘late bar venues’, which stay open until 3am and include the Zoo Bar, Venom, Bar Madrid and Oxygen, was sold by a private individual to Trocadero. Largest of the five is the 603 sq m (6,500 sq ft) Zoo Bar on Bear Street, W1.
Total sales for the 12 months to December 31 1997 were £6.3m and the chain made a pre-tax profit of £1.8m.
Trocadero MD Nick Tamblyn said several sites had already been identified in prime West End locations: “In Central London we are looking at Covent Garden and Soho and the area around Bond Street. These brands do require a decent pedestrian flow of our type of customer.”
Davis Coffer Lyons acted for the vendor. Leslie Perkins advised Trocadero.
EGi News 16/02/98
