DCL Completes Sale of Clerkenwell’s The Boadecia to D-R Developments
September 7, 2011
Leisure agents Davis Coffer Lyons has sold the leasehold interest of The Boadicea pub in Clerkenwell to a start-up operator, D-R Developments Ltd off an asking price of £180,000.
The 2,400sq ft premises on St John Street, EC1V, are held on the remainder of a 25 year lease from July 2006 at a passing rent of £59,000 per annum exclusive. The new buyers will continue to trade the business until late 2011 when a refurbishment and rebranding is planned.
New owner, Marc Dalla-Riva, is a trained chef who formerly worked under Gary Rhodes and at renowned venues Bibendum and Launceston Place. Assisting Marc with the project in the initial stages will be Christopher Barber, the former personal chef to HRH The Prince of Wales. Barber is the current Managing Director of Leith Food Solutions, a consultancy to the food and restaurant business.
Davis Coffer Lyons advised the vendor, Angela Long, an experienced operator who provides specialist advice in the cocktail industry as well as general business consultancy. Long also owns and operates The Loft Bar & Kitchen in Canterbury.
The Boadicea is a character building close to City University, part of the University of London, which benefits from a 2am alcohol and music licence seven days a week. It also comprises five-bedroom accommodation across the first and second floor areas.
Chris Bickle of Davis Coffer Lyons comments, The Boadicea is a fantastic business; and presents an excellent opportunity for Marc to build on the existing reputation. The pub is in a great location and I am sure the new owners will enjoy a great deal of success there. There is a consistent demand for sites like this in Central London and good suburbs.