The Raymond Revue Bar, the Soho strip club founded by property magnate Paul Raymond in 1958, has been consigned to history following its sale to a new generation of West End entrepreneurs.
The 4,850 sq ft (450 sq m) Soho landmark on Walkers Court, Brewer Street, went into administration in February and has now been sold to Paul Richardson, a promoter of gay clubs, and Marc Pearce, for an undisclosed sum.
The duo plan to turn Britain’s first licensed nude strip club into a late-night party and cabaret venue called Too 2 Much.
The passing rent is £275,000 pa.
Raymond, whose company still owns the freehold of the site, sold the strip club to French businessman Gerard Simi in 1997.
But its old-fashioned burlesque show struggled in the face of competition from rivals such as Stringfellows and Spearmint Rhino.
Visits from tourists and foreign businessmen also dwindled.
Shelley Sandzer advised the administrator on the sale and Gilmarc advised the purchaser.
Shelley Sandzer partner Trevor Shelley said: “This is a very rare opportunity for a party to acquire a world-famous venue, with a Table Dance Licence until 4am, and much enjoyment was had dealing with these premises.”
References: EGi News 10/06/04
