City Slickers : RUMP STAKE; Stringfellow buys Fashion Cafe to give it erotic image.
CLUB legend Peter Stringfellow has the City drooling - and not just because of a possible pounds 30 million flotation of his empire.Slicker's mate has snapped up the troubled Fashion Cafe which he plans to convert into London's hottest new dancing club, renamed the Passion Cafe.
The deal is Pete's first major venture since starting the hugely successful Cabaret of Angels at Stringfellow's nightclub, and is part of his continued drive to grow a number of separate businesses. At a celebration dinner last night, Stringfellow told Slicker: "It's something I've always wanted to do."
As well as collecting "substantial" rent, Stringfellow will invest pounds 3 million in the Cafe, converting it to a "mainstream entertainment place."
When opened in September, the Passion Cafe will feature 120 girls, offering table-side dancing and full nude dancing on stage.
"My nightclub is very exclusive and corporate. A lot of people just can't get in," he says "I want to make this is more mainstream, and a must for every tourist in London."
SLICKER SAYS: If Pete plays his cards right this could bring in pounds 8 million a year - which could value his business empire at nearer pounds 50 million should he go for a stock market listing.
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| Author: | Bhoyrul, Anil; Slickers@mirrorcouk, JAMES HIPWELL E- |
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| Publication: | The Mirror (London, England) |
| Date: | Jan 20, 2000 |
| Words: | 205 |
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