ONE of London's oldest gentlemen's clubs will re-open its doors next year to a new generation of banking professionals after being purchased by a Hong Kong developer.
The former Gresham Club, which has been acquired by CCA International, will retain its former status as an exclusive meeting point and its return back to the hub of London's finance world will be helped along by a new name and image.
Located on Abchurch Lane in the heart of London, the club has been re-named the Capital Club of London.
CCA paid between $11.2 million and $14 million to purchase the club with a freehold title from its previous owner, the Sun Alliance Insurance Group.
''The club has been around for more than 100 years but never advanced into the 20th century,'' CCA's managing director Ken Creighton said. ''It used to be against the rules to take briefcases into the old club or discuss business. Even wives were not allowed to enter.'' ''We will bring our own style of club entertaining to London,'' he added.
''London clubs are different to those in Hong Kong and Tokyo but the new establishment will operate with a far more flexible base.'' The purchase of the historic club marks the private company's first venture into Europe.
