Aprirose Investors are seeking offers in the region of £70 million for the iconic Grosvenor Victoria Casino on Edgware Road, London.
“The Grosvenor Victoria Casino is a London West End institution that makes an attractive investment for potential buyers," said Manish Gudka, chief executive at Aprirose. "We have appointed our advisers to dispose of the asset as we look to exit in line with our investment strategy at the time of purchase.”
Known affectionately as “The Vic,” the casino has a loyal customer base and welcomes an upwards of 1,200 customers per day through its doors. Its poker room has hosted major tournaments such as those on the Grosvenor UK Poker Tour, World Series of Poker Europe, European Poker Tour and the recent Unibet Open London festival.
The poker room can seat 250 players and has been a regular haunt for The Hendon Mob’s Barney and Ross Boatman, Joe Beevers and Victoria Coren-Mitchell, the latter having written about her experiences of The Vic in her superb book For Richer For Poorer: Confessions of a Player.
In 2014, Aprirose Investors secured the freehold sale of the casino for £55.5 million but has now appointed Knight Frank and Savills to promote a sale with an asking price in the region of £70 million.
“The marketing of this asset presents an outstanding opportunity as London casinos are rarely offered to the open market," Director of central London investment at Savills Jonathan O’Regan said. "The casino sector is performing well in London and Grosvenor Casinos, the U.K.’s biggest brand, is an excellent covenant for this asset.”
There is an agreement in place that would see Rank Group, owners of the Grosvenor Casino brand, remain as the operator of the casino by leasing it back from its new owner until 2026.
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