Yoo treads into theatreland with £30m Shaftesbury Avenue buy
Yoo Capital Investment Management has bought the former Saville Theatre on Shaftesbury Avenue, WC2, for an estimated £30m.
It is the second acquisition on behalf of Yoo Capital Fund II, the first in a series of funds launched in partnership between Yoo Capital and Astarte Capital Partners.
The listed building is now home to an Odeon cinema. Yoo said it was “committed to investing in and fully retaining cultural use of the building and ensuring the future of this important part of London’s cultural heritage”.
Yoo Capital Investment Management has bought the former Saville Theatre on Shaftesbury Avenue, WC2, for an estimated £30m.
It is the second acquisition on behalf of Yoo Capital Fund II, the first in a series of funds launched in partnership between Yoo Capital and Astarte Capital Partners.
The listed building is now home to an Odeon cinema. Yoo said it was “committed to investing in and fully retaining cultural use of the building and ensuring the future of this important part of London’s cultural heritage”.
Yoo chairman John Hitchcox said: “The last two years have hit the arts and entertainment industries particularly hard, and we are delighted to be investing in The Saville and in the arts once again.”
Lloyd Lee, managing partner at Yoo Capital, added: “On behalf of the firm and our investors, we consider ourselves privileged to be able to commit our resources to secure its long-term future. We look forward to working with existing stakeholders, the community, arts groups and the London Borough of Camden on our proposals for investment.”
KLM Real Estate, Fladgate and Weil, Gotshal & Manges acted on behalf of Yoo Capital Investment Management; Hanover Green and Lawrence Stephens Limited advised the vendor.
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Photo from Yoo Capital
