Ovation nightclub and Paddy McGinty’s Party Bar building in Gabriel's Hill, Maidstone, up for auction
12:35, 28 October 2024
updated: 12:35, 28 October 2024
The home of a prominent town centre nightclub and bar is up for auction.
The building housing Ovation and Paddy McGinty’s in Gabriel's Hill, Maidstone, is set to go under the hammer next month.
The four-storey Greatest Showman-themed club opened in July last year.
It took over from Madison’s bar and restaurant after it suddenly closed in 2022, despite having only opened two years earlier.
Before that, the site was home to Strawberry Moons nightspot until it closed in 2017.
Now, the 16,047 sq ft venue has been listed for sale by auctioneers Acuitus with a freehold guide price of £1.1 million.
According to Acuitus, the annual rental income from the club is £115,000, rising to £120,000 in May 2025.
The Epic Bar-owned businesses will remain unaffected due to a 15-year lease which began in the spring of last year.
Company director Duncan Squires said: “It’s always been a great site for the company and we’re looking forward to continuing what we are doing each weekend.
“We have our upcoming Halloween and Christmas events so if anyone would like to come it’s always advised to book quick.”
The auction will be held on November 7 at 1pm via a livestream on the Acuitus website.
For more details click here.
David Margolis, a spokesman for the auctioneer, said: “The UK leisure sector is performing well across the national picture.
“Those under long-term lease agreements make them highly attractive to investors looking to buy long income streams in the sector.”