Iconic music venue The Water Rats sold
August 10, 2015
Iconic London music venue The Water Rats has been sold by Davis Coffer Lyons the leisure specialists to Sally Fox who previously ran the successful Soho Nightclub Moonlighting for a premium of £150,000 and a rent of £90,000 pa.
The venue on Grays Inn Road near Kings Cross was previously the haunt of Lenin and Karl Marx the latter of which had a flat on the upper floors. It then became one of the Capitals premier live music venues with performances from some of the biggest names in music including Bob Dylan, Oasis, The Pogues, Katy Perry and Alanis Morisette.
The venue will undergo a substantial refurbishment to bring it back to its former glory with a quirky modern design. Once reopened The Water Rats will provide an all-day gastro service from breakfast and coffee in the morning to real ale and cocktails in the evening. There will also be performances from some of the biggest bands in the country, with some being broadcast live on television as well as book launches and a series of other events.
Paul Tallentyre, Executive Director at Davis Coffer Lyons said: Despite concerns about the closure of this type of property The Water Rats will continue to operate as a late night music venue, which highlights the opportunities in the sector for the right property and operation. It is a truly iconic venue, which – coupled with Sallys extensive knowledge of operating similar venues – will help to ensure that the venue continues to attract top quality bands and music lovers for years to come.
Sally Fox, said: We are ecstatic to be running such an iconic venue and are passionate about continuing the live music and comedy nights as well as introducing a new gastro food offer. This is a match made in heaven and we look forward to carrying on The Grand Order of the Water Rats legacy.