The first of the six Prestige Group-owned sites that were placed on the market at the end of September has been sold to the owner of the Cargo nightclub and late night bar, and The Redchurch pub, in London’s Shoreditch. The Kings Head pub on Kingsland Road, London E2, was sold to the private owner of both enterprises for an undisclosed sum, with offers in excess of £775,000 sought. Prestige Group, the London-based pub group owned by John Riordan, placed six of its sites on the market through Davis Coffer Lyons (DCL). The company instructed DCL to sell the portfolio, which comprises six freehold and long leasehold properties for individual investment and development opportunities. The sale of the pubs will leave Prestige operating a small management company plus a handful of leasehold sites. The pubs, which are located in North and North West London, are available with guide prices between £700,000 and £1.6m and are available offering either vacant possession or with occupational leases in place. Paul Tallentyre, director of the pubs team at DCL, said, “Kingsland Road is benefiting from the buzz being created just south in Shoreditch where occupier demand for leisure and retail space is high and the arrival of Box Park, the first British “pop-up mall” next month in Shoreditch, has propelled the attraction of this area even further.”