Newspaper article The Evening Standard (London, England)

Pall Mall Club Banks on PS5m Wine Vault to Draw Members

Newspaper article The Evening Standard (London, England)

Pall Mall Club Banks on PS5m Wine Vault to Draw Members

Article excerpt

Byline: Jonathan Prynn Consumer Business Editor

THE first new private members club in Pall Mall for almost a century is to be a retreat where wealthy wine buffs can enjoy a PS1,000 bottle of claret.

The club, 67 Pall Mall, will stock PS5 million of wine in a former bank, some so valuable it will be held in a vault where notes were once stored.

It will be close to some of clubland's most famous institutions including the Reform, the Army & Navy, the Oxford and Cambridge and the RAC.

Founder and chief executive Grant Ashton, a former hedge fund boss, said he was inspired to set up the club by the pricing of wine at restaurants.

Mr Ashton, 48, said: "I got fed up of being mugged by punitive London mark-ups on fine wine. Like a lot of people, I'd stopped drinking seriously good wine in restaurants. It wasn't that I couldn't afford to, but simply because I was no longer prepared to pay the egregious, nonsensical prices that were being asked. …

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