03/07/2018
Casual Dining Group receive £30m from KKR
Casual Dining Group, which operates almost 300 mid-market restaurants brands, including Bella Italia, Café Rouge and Las Iguanas, is set to receive £30m in refinancing funding. The investment comes from KKR, an American private equity firm, and will strengthen the group's long term financial structure as well as allow growth. The Caterer reports that irrespective of a challenging climate for the restaurant market, in the last 14 weeks CDG has managed to increase total sales by 5% and like-like for-like sale by 2.3%.
Planning approved for Premier Inn Hub hotel in London
Premier Inn owner, Whitbread, has secured planning permission from Westminster city Council for a 294-bedroom hotel situated in Old Marylebone Road, reports The Caterer. Having purchased the freehold for the 54,000 sq ft former office in 2016 for £31.25m, the new hotel is expected to open in 2021. The new site will open under their hub brand, of which there are seven already trading in London, and an additional seven in the planning and construction stages.
Berkshire pub marks 20th site for Peach Pub Company
Boulters Lock in Berkshire has been acquired by Peach Pub Company, according to Pub and Bar magazine, marking their 20th site. The pub/restaurant gained its name due to its location on top of a lock on the River Thames. Having acquired the site for £350,000, Peach intend to redevelop the pub later this year.
First London aparthotel for Roomzzz
Roomzzz, the aparthotel chain, has opened its first London site, according to Propel Info. The hotel is located in Stratford and features five different styles of self-catering apartments as well as free electric car-charging points, a fitness studio and co-working space. Roomzzz currently operates sites in Manchester, Leeds, Liverpool, Nottingham, Chester and Newcastle; with plans to open in York, Harrogate and Edinburgh.
Fuller's looks to grow room count in pub estate
Fuller, Smith & Turner, the Chiswick-based brewer and pub company, aims to increase the amount of bedrooms in its pub estate to 1,000 rooms in the next two years. The Caterer reports that having recently acquired the six-strong Bel & The Dragon group, which is expected to complete next month, Fuller's room count now totals 781.
And Finally...
The Grade I listed Cupola House in Bury St Edmunds has been introduced to the market by Fleurets, a new lease is available with a nil premium and vacant possession. Propel Info reports that Fleurets is marketing the property on behalf of owner OMC Investments. Built as a private home in 1693, the property later traded as an apothecary, followed by a wine merchants and pub. From the 1990s, the premises traded as a Strada restaurant, until 2013 and later as steak and lobster restaurant Bourgee.