Buyer has Eyes on SFI lap-dance club

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Related tags: Storey, Floor

A buyer has been found for the most unusual of the 52 sites being sold by SFI administrator PricewaterhouseCoopers For Your Eyes Only, a lap-dancing...

A buyer has been found for the most unusual of the 52 sites being sold by SFI administrator PricewaterhouseCoopers For Your Eyes Only, a lap-dancing club in London's Mayfair.

The White Horse Street site, for which there is a 35-year lease that began in June 2002, has a rent of £350,000 a year and a rates bill of another £100,000.

The venue has capacity for 220 on the ground floor, 110 on the first floor and 80 on the second. The club is the last of the lap-dancing venues SFI acquired when it bought Richardsons Inns the rest were sold in 2003.

SFI had originally promised to sell the lap-dancing chain because it claimed it was 'inappropriate for a public company to own it. Later, chairman Tony Hill told investors the chain was cash generative and would be tested at a number of roll-out sites.

Administrator David Chubb said: 'It's definitely been sold and is a very good result for creditors. If I've not been able to get a premium for sites I've been shutting them.

Chubb declined to name the buyer, who faces a rent review that is currently three months overdue.

Related topics: Property law, Other operators

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