Sale and leaseback of the Ivy Covent Garden
September 1, 2017
Coffer Corporate Leisure has completed the sale and leaseback of The Ivy and The Club at The Ivy on behalf of Caprice Holdings. The property was purchased in an off market deal by Standard Life for a sum of £37.5 million.
The freehold property, on the corner of West Street in Covent Garden, was The Ivy’s first location back in 1917 when the restaurant was established by Abel Giandolini. Since then, the property has undergone several refurbishments, and in 2008 a private members club, called The Club at The Ivy was launched. The restaurant seats 100 covers and there is also a private dining room on the first floor of the restaurant, seating up to 60.
Mark Sheehan, Managing Director, Coffer Corporate Leisure, said “This was a rare opportunity to acquire an iconic property that plays home to one of the world’s most exclusive restaurants. The property attracted great interest, highlighting strong investor demand which we expect will continue”.
Coffer Corporate Leisure advised Caprice Holdings while CBRE acted for Standard Life.