Vince Power, the music entrepreneur who founded the Mean Fiddler live music venue group, has sold a north London bar for £1m to the operators of the former Wax Jambu bar in Islington.
DCL handled the sale of Power’s Bar in Kilburn, which is to be renamed Kilburn Ironworks and re-open in early 2014 after an extensive refurbishment.
A second bar and a kitchen are planned for the first floor. A selection of local beers and craft ales, plus a rotating cocktail list, will be offered. There will also be sharing food jars and small plates at the 3,500 sq ft premises.
Will Partridge, one of the new owners, said: “Having recently acquired Powers bar on Kilburn High Road, we intend to extensively refurbish the site, developing it into a prime North West London eating and drinking establishment. Our focus is very much on providing a great neighbourhood bar for local residents, giving them an offering that cannot currently be found anywhere else in the surrounding area.”
Jonathan Moradoff, associate director at DCL, said: “This part of North West London is really starting to develop into a leisure destination in its own right and operators are really starting to realise its potential.
“These early adopters are trading exceptionally well and Kilburn Ironworks fits perfectly with what we believe the area needs. Given the pairs track record running popular bars we have no doubt that it will be a success.”
