A Bristol nightclub has been sold off for more than one million pounds after being put up for sale for £925,000.
Mbargo, on the Triangle in Clifton, has operated as a licensed premises for more than 25 years.
The commercial team at estate agency Carter Jonas in Bristol said it was instructed to sell the property by its private client in April.
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The 8,401 sq ft nightclub was sold to Matterhorn Investment Management - an emerging markets equity investment manager - for £1.36m following a so-called 'best bids' process.
It is understood that Matterhorn Investments plans to continue running the premises as a nightclub under the same name.
According to Stuart Williams, partner of commercial at Carter Jonas, Mbargo attracted a “large volume of interest and viewings” before being sold.
He said: “Triangle West, with its Clifton address, is one of the most popular locations in Bristol’s night-time economy, and its neighbouring streets are some of its most iconic and recognisable shopping locations.
“These factors meant the site presented a great opportunity to investors looking for a visible presence in the city.
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“We received a huge amount of interest from potential buyers, and we are pleased to have secured a sale over the guide price with the purchase completing in just four weeks.”
Matterhorn Investments was advised on the sale by property consultancy firm Street Property Consultants.
In March, Bristol City Council appointed a night-time economy adviser to help the city’s entertainment and hospitality industry recover from the pandemic. Nightclubs in England reopened in July following the easing of Covid restrictions.
In September, health secretary Sajid Javid told the BBC that plans to introduce vaccine passports for access into nightclubs in England would be scrapped.
The Night Time Industries Association had previously criticised the proposals put forward by the government, claiming it could have led to discrimination cases.
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