New bar deal in “vibrant” London market

Spectator City of LondonEHM Bars-Clubs-Restaurants is continuing to expand with the acquisition of a popular bar in the City of London.

It has taken on the lease of The Spectator in Little Britain, off an asking price of £150,000, through leisure property specialist DCL. It is a 25-year free-of-tie lease with 16 years unexpired.

The deal follows EHM Bars-Clubs-Restaurants’ purchase of another late-night bar The Plum Tree in Farringdon, which DCL sold as a closed site in December.

Close to the Museum of London and Smithfield, the Spectator covers 2,700 sq ft of ground floor and basement and has been refurbished into a modern and stylish drinking and dining space.

EHM Bars-Clubs-Restaurants – the trading name of HM Establishment Ltd – also operates Yager Bar near St Paul’s and Gilt Bar next to Fenchurch Street station.

Jonathan Moradoff of DCL said: “This deal once again highlights how vibrant the capital’s market is at the moment. The feelgood factor that is emerging in the City is really starting to filter out and we expect to see the market continue to hot up as we move into 2014.

“The Spectator is the latest addition to Establishment HM Limited’s growing portfolio and we have no doubt – given the company’s track record – it will be a success.”

The vendor was represented by Dean Gambles and Co.

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