DCL sells The Cuban in the City

16th March 2010, 11:10am

South American themed bar and restaurant chain The Cuban has sold one of its venues at City Point, Moorgate.

Acting on behalf of owner Roger Payne, Davis Coffer Lyons sold the 5,000 sq ft bar on 1 Ropemaker Street to entrepreneur Dave Bance of Bance Group, an international manufacturing, real estate and investment company.

The sale leaves Payne with two other Cuban bars in Camden and Canterbury. He is also to open a £5.5m venue called Shaka Zulu underneath the Gilgamesh restaurant in Camden in a joint venture with Camden Stables Market in May. The 850-cover venue will feature two restaurants, a bar and a club and will be themed around South African Zulu culture.
 
The Cuban is the second venue DCL has sold to Bance Group within one year, following the sale of late night City bar and music venue Parker McMillan in September. Bance has said he plans to increase his nightclub portfolio further.

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