30 January 2013

Fabric is a material success for London Transport

With its three rooms, two stages and vibrating, bodysonic dancefloor that lets dancers literally feel the bass notes through their feet, fabric in Charterhouse Street has established itself as London’s destination of choice for serious clubbers. This is not just good news for the promoters but also their landlords, London Transport, who have just secured a substantial uplift in rent on the EC1M property.

“fabric is one of the largest and most cutting edge nightclubs in central London, so we were delighted to be asked by London Transport to conduct a rent review,” says Anthony Alder of licensed leisure specialists AG&G.

“We may not know much about the heavy bass and techno served up by fabric’s DJs but we know the capital’s nightclub sector inside out and could see that, at more than 20,000 square feet and with a 1,700 capacity, the venue could be generating more income for its owners. We were able to put this insight to good use and successfully increased the rent from £355,770 to £500,000 per annum. It shows that late night, quirky clubs in sought-after, mid town locations can be just as appealing to hard-headed investors as to fun-loving punters.”

Since fabric was founded by Keith Reilly and Cameron Leslie in 1999, it has launched the careers of many successful DJs and earned accolades from the national press, including the Guardian and Evening Standard. It has also achieved the top spot or runner up in DJ Magazine’s Top 100 Clubs in the World poll each year from 2007 to 2010.

For more information, contact Anthony Alder on 020 7836 7826, e-mail aalder@agg.uk.com.

AG&G are chartered surveyors specialising in the licensed leisure industry, with the skill and experience needed to value, assess or promote a property not simply as bricks and mortar but as a business. If it involves the price of a licensed premises, its profitability, rental value, investment prospects or value in a dispute, AG&G can help.

8 Exchange Court,
London, WC2R 0JH