Leading club entrepreneur Nick House is preparing to unveil a new concept in London’s Notting Hill after taking over a site with singer-songwriter Ed Sheeran.
Nick heads a consortium that has taken over the lease of well-known pub, the Portobello Gold which was opened in 1985 by Michael Bell in the former site of the troubled The Princess Alexandra. Customers have included US president Bill Clinton.
They plan to carry out “significant works” to the property in Portobello Road before opening a new concept in 2018. Owned by leased pub and joint venture specialist EI Group, it includes nine letting rooms on the upper floors.
Nick has been co-founder of several of London’s top clubs and bars over the years including Mahiki, The Brompton Club, Whisky Mist, The Punch Bowl, Steam & Rye, Bodo’s Schloss and Bonbonniere.
The leasehold was sold through licensed property specialists Davis Coffer Lyons for £650,000 at a passing rent of £125,000 a year.
Paul Tallentyre, executive director at Davis Coffer Lyons, said: “We received numerous bids for the property due to its ideal location on Portobello Road and opportunity to develop the trade.
“It has a strong reputation amongst the local community and I’m sure the former landlord Mike Bell will be much missed as he starts a new venture in Wales.
“However, Nick House is famous for creating some of London’s hippest venues and I’m sure he won’t fail to recreate another fantastic success here.”
