Belfast’s biggest gay nightclub has been bought by a group of businessman from Co Armagh and Co Down in a multimillion pound deal.
The Kremlin complex, including the Donegall Street nightclub, Union Street Bar and Shoe Factory, has been acquired for close to £5 million.
It’s understood the deal, which includes a number of other business units on Union Street, was officially completed on August 9.
According to Companies House, the business behind The Kremlin, Anthology NI, is now under the ownership of a Portadown company owned by Richard and Keith Woods.
They are involved in the construction industry in Co Armagh.
Hospitality sources have also linked Banbridge businessman Brian Scullion to the deal.
Mr Scullion previously owned the Seagoe Hotel in Portadown and at one time owned Harry’s Bar and The Coach nightclub in Banbridge.
The Kremlin deal will see Anthea Wilson step away from the business she bought a decade ago.
In a statement released to the Belfast Telegraph, Ms Wilson said: “Times have changed and hospitality is a different ball game now post-Covid, and it is time to hand the next phase of its evolution over to new people with a fresh set of ideas, who can continue to make it the best entertainment complex in the country.
“The Kremlin is busier now than it has ever been, and I am looking forward to seeing what the new owners do to develop it further.”
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Gavin Weir of Avison Young, which brokered the transaction, said: “We were delighted to represent Anthology NI Limited in the disposal of what is undoubtedly one of Belfast’s most successful leisure destinations.
“We look forward to seeing the business flourish under the new ownership and see the deal as a real confidence boost for the sector as a whole.
“The deal goes to prove that Belfast can compare favourably with other major cities in terms of both trading performance and price.”
The Kremlin was originally launched by Seamus Sweeney and Andre Graham in 1999.
They later sold the business and adjoining property in 2014 for around £3m.
The duo’s latest hospitality vehicle, Big Top Productions, secured planning approval in February redevelop a listed former police station on Belfast’s Queen Street into a new boutique hotel.
