Grosvenor Casinos, part of the Rank Group, has signed a 20-year lease with the Yianis Group for a 27,000 sq ft casino at Southend-on-Sea.
Grosvenor will become the anchor tenant in the next phase of the Yianis Group’s multi-million pound redevelopment of The Palace hotel.
The Palace, one of the last great Edwardian hotels to be built in the UK, has undergone a £25m refurbishment since it was acquired by the Yianis Group in 2000 and has already delivered a 137 bedroom hotel - let to Park Inn - and 16 luxury apartments.
The casino will operate over ground and lower ground floors across a total 27,000 sq ft and is expected to open later this year.
Cedar Dean Gilmarc has been appointed as joint letting agents with Southend local agents Dedman Gray, to market the remaining 25,000 sq ft of retail and leisure space, which incorporates kiosk units of 500 sq ft through to larger units of 7,000 sq ft.