Adventure Bar has bought a long leasehold of the former Clubhouse in London’s Covent Garden for its fourth branch.
The bar operator from the former TGI Friday’s and Be at One team has taken on a 25-year lease at the Earlham Street, WC2, property.
The bar will open in 2016 following a refurbishment.
The group raised 90% of the funding for the purchase from a restructuring deal agreed by Challenger Bank OakNorth totalling around £1m and the rest via cashflow.
David Coffer Lyons advised on the sale.
Jonathan Moradoff, associate director at Davis Coffer Lyons, said: “Despite the enormous competition for sites in this prime Central London pitch, we are thrilled to have secured new premises for Adventure Bar’s finely tuned format in Covent Garden.”
