The Mean Fiddler was soldtogether with the London Astoriato property group Derwent Valley Central, who plan to convert the site to a combination of shops, flats and offices to raise money during the Olympics. It will continue to be rented to the Mean Fiddler group until 2008, but after that it will die.
Late last week, development company Derwent Valley struck a deal with Mean Fiddler worth almost £24m, and are rumoured to be planning to turn the aging theatre into a new development of shops, office space and flats. Derwent already own much of the land and buildings surrounding the Astoria, and could develop the entire block into a retail complex.
"The Astoria is a valuable addition and a strategic acquisition, which adjoins our existing holdings in the area and will form a potential development site for the future," John Burns, Managing Director of Derwent Valley confirmed.
"We are committed to the regeneration of key areas in London and are looking forward to the opportunities afforded by such a prominent location," he added. The deal includes the building at 17 Oxford Street, a 3,270 sq foot retail area on a 25-year lease since 1997.
All I can say is... wankers.
Late last week, development company Derwent Valley struck a deal with Mean Fiddler worth almost £24m, and are rumoured to be planning to turn the aging theatre into a new development of shops, office space and flats. Derwent already own much of the land and buildings surrounding the Astoria, and could develop the entire block into a retail complex.
"The Astoria is a valuable addition and a strategic acquisition, which adjoins our existing holdings in the area and will form a potential development site for the future," John Burns, Managing Director of Derwent Valley confirmed.
"We are committed to the regeneration of key areas in London and are looking forward to the opportunities afforded by such a prominent location," he added. The deal includes the building at 17 Oxford Street, a 3,270 sq foot retail area on a 25-year lease since 1997.
All I can say is... wankers.