Taylor Wessing has advised Access Entertainment, a division of Sir Leonard Blavatnik's Access Industries, on its acquisition of the iconic Theatre Royal in London's Haymarket for an undisclosed sum.
Theatre Royal Haymarket is a Grade I listed building and the third oldest playhouse in London that is still in use. Taylor Wessing worked closely with Access to ensure an orderly transition of an established business, in a way which was sympathetic and cognisant of the theatre's roots and history. This acquisition is the latest in a series of investments made by Access Entertainment across television, film and theatre.
Commenting on the deal, Keith Barnett, partner and head of Real Estate at Taylor Wessing, said:
"Theatre Royal Haymarket is a fantastic addition to Access Entertainment's growing portfolio. The company has built an excellent reputation in the arts and entertainment sector, and this acquisition has certainly contributed to their plans for future growth. We look forward to continuing to work with them as they build on this latest success."
Danny Cohen, President of Access Entertainment, said when the investment was announced:
“London’s West End is a world-leading powerhouse of artistic talent and through this acquisition we will contribute to its ongoing success. When it comes to great talent the boundaries between film, television and theatre have never been more porous, so this acquisition creates great opportunities for Access Entertainment across the world."
The deal was led by Taylor Wessing's Keith Barnett, head of Real Estate, supported by senior associates Charlotte Chambers (Corporate), Shilpa Vaswani (Real Estate) and James Stewart (Tax).