London’s largest casino has been brought to the market for £50m.
A joint venture between William Pears and the Khalastchi family is selling the Grosvenor Victoria Casino at 150-152 Edgware Road, W2, for a price reflecting a 5.3% yield.
The 77,500 sq ft building is let to Grosvenor Casinos on a 20-year lease from 2006 with five-yearly upward-only reviews. It produces £2.8m pa rent. There is also a block comprising 48 flats, let to Heartpride for a further 98 years.
Colliers International is advising the JV.
annabel.dixon@estatesgazette.com
