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Palacegate Casino in London’s Kensington up for sale

Palacegate Casino in London’s Kensington up for sale

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The iconic Palacegate Casino, in the Royal London Borough of Kensington & Chelsea, London, has been put on the market by the Administrators of current owner, Coastbright Limited.

The stylish and intimate casino, previously Maxims, is one of only four casinos in this desirable London borough and offers are invited to acquire either the freehold property and premises licence (individually or together), or to the take the proprietary trading company, Coastbright Limited, out of administration.

Palacegate Casino is an exceptional Grade II listed freehold property in central London, overlooking Hyde Park and Kensington Gardens. It was originally built as a prominent Victorian townhouse for John Forster, a friend and biographer of Charles Dickens, in the 1860s. The detached freehold property now comprises an award-winning restaurant, whisky bar and four separate gaming rooms.

Paul Breen, Director of the Licensed Leisure team at selling agent, Savills, comments: “Opportunities to acquire a casino business which has such a strong trading history at the same time as purchasing an iconic piece of prime central London real estate are incredibly rare.  With a variety of different asset management angles to explore we anticipate a broad range of interest from UK based operators and investors as well as those based overseas.”