Another Closed Bar Attracts a Premium
May 6, 2014
Honey & Venom, immediately adjacent to Tooting Bec station in South London, has been sold by Davis Coffer Lyons – the leisure specialists – to a new independent operator Red Trousers Entertainment Ltd securing a premium for the closed bar.
The unit will undergo an extensive refurbishment and will reopen as The Imperial Durbar in June. It will provide a new all day offer with the focus on a family orientated coffee shop during the day before shifting towards a cocktail bar operation in the evenings.
Charlotte Wild, Chartered Surveyor at Davis Coffer Lyons said: This bar is in a fabulous location and the new offer is really going to appeal to the areas demographic of both families and young professionals. We are seeing major changes in Tooting and other similar areas around the capital as young professionals are pushed out of more traditional locations. This is having a profound effect on the local leisure market, which is reflected by the premium we secured for a closed site.