08/10/2019
Shepherd Neame purchases landmark Rochester pub
Shepherd Neame has completed the purchase of the Crown in Rochester. The freehold was marketed off a guide price of £1,100,000 and the transaction brokered by Simon Bland of Fleurets. The very popular family owned pub, a substantial grade II listed Victorian building at the northern end of Rochester's historic High Street, reputedly dates back to the 1850s and occupies a prominent corner position in the shadow of Rochester Castle and beside the Medway Bridge.
Fuller's discussing the purchase of Cotswolds Inns & Hotels
Fuller's is in discussion to acquire Cotswolds Inns & Hotels, reports Propel, with the deal estimated at circa £40m. Cotswolds Inns & Hotels operates two bars (Churchills Bar and Utopia Bar, both in Birmingham) and seven hotels (The Swan Hotel in Bibury; The Manor House Hotel in Moreton-in-Marsh; The Lamb Inn in Burford; The Hare & Hounds Hotel in Westonbirt; The Close Hotel in Tetbury; The Bear of Rodborough Hotel, near Stroud and The Bay Tree Hotel in Burford). The transaction would increase Fuller's bedroom count by circa 200 rooms.
Robinsons acquires Cheshire pub from Marston's
Robinsons has acquired The Egerton Arms in Broxton, near Chester, with the assistance of Fleurets, reports Propel. Robinsons, who own 260 pubs, inns and hotels in the north west announced their 2018 results last month, reporting a 6.1% increase in turnover to £75.5m and also an increase in pre-tax profits to £7.1m.
The Ivy to open in London's Victoria
Big Hospitality has reported that The Ivy will open in London's Victoria this winter, on the former Jamie's Italian site. The 292-cover restaurant will be located at 66 Victoria Street. Furthermore, The Ivy has acquired the former Barbecoa site in St Pauls for its first standalone Ivy Asia as well as a former Jamie's Italian site in Cardiff.
Construction starts on Manchester's Maldron hotel
Work has commenced on the development of the Maldron hotel, a 278-bedroom hotel in Manchester's Charles Street. The Caterer reports that the £47m development is a joint venture between Catalyst Capital and Sir Robert McAlpine Capital Ventures (SRMCV). Dalata Hotel Group have leased the hotel for its Maldron brand.
And Finally...
Ed Sandall of Fleurets' London office has been promoted to the board of directors. Sandall joined Fleurets in 2014 and has 17 years of experience in the sector. Ed will have a national role leading the investment team as well as continuing to work within the valuation team.