20 Aug 2003
LCI gains new lease on Les Ambassadeurs
The Crown Estate has granted a new 25-year lease for the private casino club, Les Ambassadeurs, to London Clubs International at a rent of £1.4m per annum.
The 18,500sq ft club, which contains a casino, restaurant and private function room, was previously on a long lease due to expire in April next year. However, both LCI and The Crown Estate were keen to secure the future of the club so the new lease runs from April this year.
As part of the deal, the club will undergo a £2m refurbishment, LCI acknowledging that the government’s proposed reform of gambling legislation will bring new competition to the industry. Details: www.lciclubs.com
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