Intertain has put Walkabout in Shepherd’s Bush, west London, on the market, with an aim to use the proceeds to kickstart its acquisition programme and fund the remainder of its refurbishments, M&C Report has learnt.
Davis Coffer Lyons has been appointed to find a buyer for the 12,700 sq ft, 1,150-capacity freehold premises on Shepherd’s Bush Green.
Intertain chief executive John Leslie told M&C Report that he expects to have a “range offers” for the venue, which has a licence until midnight. This could include offers for development of the site, which is located near the Westfield Shopping Centre.
It comes as the 35-strong operator, which last week announced its acquisition by Barclays Ventures and a consortium owned by TPG Opportunities Partners and Goldman Sachs, continues its investment programme that began in the second half of 2010. Eleven sites have received major investments to date, with a further six planned for this year and the remainder next year.
The company has also said it plans to actively seek acquisitions following the change of ownership.
Leslie said: “The proceeds we are hoping to get from this we will completely refurbish the estate and we hope kick-start our acquisition programme.”
