Disposal of Iconic Jazz Café, Camden
October 6, 2022
Coffer Corporate Leisure has advised a client on the sale of 5-7 Parkway, Camden.
The freehold property comprises a famous live music venue, trading as the Jazz Café, which has hosted some of the biggest names in music including Adele and Amy Winehouse.
The property is let on a long lease to the Columbo Group – experienced operators in the late-night sector with venues including Blues Kitchen, XOYO and the Old Queens Head.
The asset has been acquired by a private consortium.
Jack Silvani, Director at Coffer Corporate Leisure who advised the vendor said “This sale was an opportunity to acquire a secure, defensive, long-income asset. Investors buying into this segment of the market are typically cash buyers, acquiring for the long term and are therefore less concerned by market fluctuations.
The Jazz Café is one of the best-known live music venues in London. It has traded successfully in its current format for over 30 years, and was sold with a further 25 years on the lease. In a turbulent investment market we tend to observe a flight to quality. We firmly believe many areas of the leisure sector offer this.”
Coffer Corporate Leisure advised the vendor. The purchaser, a private consortium, was unrepresented.