LONDON’S GROUCHO CLUB SOLD IN £40MILLION DEAL

THE Groucho Club, the private members’ club famed for its bohemian clientele drawn from London’s art and film scene, has changed hands in a deal worth £40m.

A favourite of the ‘Cool Britannia’ set – including Noel Gallagher, Tracey Emin, Damien Hirst and Kate Moss ( pictured) – the Groucho’s new owners are Iwan and Manuela Wirth, whose company Artfarm owns the world-renowned contemporary art gallery Hauser & Wirth and venues such as Roth Bar & Grill in Bruton, Somerset. Artfarm said it had bought the iconic venue, located in London’s Soho district, from a group of investors including Alcuin Capital Partners, a private equity firm that owns coffee chain Caffe Nero.

The story was first broken by the Daily Mail’s diary column back in May and the deal marks the third time the Groucho has changed ownership in its 37-year history. The club’s owners hope to increase its 5,000-strong membership by pursuing younger clients. Founded in 1985, the venue pitched itself as an antidote to London’s stuffier gentlemen’s clubs, such as the Garrick Club, which still does not accept female members.