Black Lion pub in London sells for £27m
A 300-year-old pub in west London has sold for a record-breaking £27 million.
The Black Lion tavern on Bayswater Road in the exclusive borough Kensington and Chelsea made £700,000 last year, but has fetched more than any other central London pub before it, pub group Spirit revealed according to the Evening Standard.
Its buyer, who is registered as a developer registered in Jersey, is expected to invest £500 million into transforming the building into luxury flats, although this has not been confirmed.
The pub will be “run for an agreed period” before the redevelopment begins.