Lawrence Stephens’ Consultant Solicitor, David Seal, has acted for the vendor of Saville Theatre on London’s Shaftsbury Avenue to complete a sale to Yoo Capital Investment Management.
The Grade II listed building initially opened as a theatre back in 1931 but is currently home to the four-screen Odeon Covent Garden cinema. Over the years, the theatre has played host to live performances by The Rolling Stones, Chuck Berry, The Who and Jimi Hendrix. In 1967, The Beatles recorded their hit album ‘Hello, Goodbye’ at the venue.
The Art Deco building is also iconic for its unique architecture, displaying a 40m Gilbert Bayes frieze depicting ‘Drama Through the Ages’ on its frontage.
The purchasers, Yoo Capital, has earmarked Saville Theatre for use as a cultural space and has exciting plans for the venue’s redevelopment and preservation.
Lloyd Lee, Yoo Capital’s Managing Partner has stated:
“We are excited to acquire one of London’s true hidden gems. The Saville has been a very special home of live theatre and entertainment for 90 years. On behalf of the firm and our investors, we consider ourselves privileged to be able to commit our resources to secure its long-term future. We look forward to working with existing stakeholders, the community, arts groups and the London Borough of Camden on our proposals for investment.”
Lawrence Stephens Consultant, David Seal, comments:
“I am delighted to have been able to work on this exciting transaction and produce an excellent result for my long-term, valued client. The future of this exceptional building seems full of promise and we look forward to seeing it continue to flourish as a key hub for the arts under its new ownership.”