A group of investors led and advised by Quinlan Private has agreed to sell the Savoy Theatre in London to the Ambassador Theatre Group and the Tulbard Group for an undisclosed sum.
The Savoy Theatre was among the assets bought in 2004 by Quinlan Private when the group bought the Berkeley, Claridges, Connaught and Savoy hotels. The Savoy Hotel was sold earlier this year, but the other three 'super luxury hotels' continue to be long term investments for the group.
The Savoy Theatre was first opened in 1881 with the Savoy Hotel built opposite it eight years later. Both were funded almost exclusively by profits generated by Gilbert and Sullivan operettas.
'The Savoy Theatre was not a core property for our investors and we are pleased to have an opportunity to realise further value,' commented Derek Quinlan, Chairman of Quinlan Private.
