11/07/2023 08:45:00
Fleurets is delighted to have secured the sale of the Nicholas Nickleby in Crouch End. The public house, which has been on the site of 6 Ferme Park Road since 1989, has been acquired by The Harkalm Group; the commercial property investors and developers specialising in the retail, leisure and alternative use sectors. Elysia Wilson-Gunn, Senior Associate at Fleurets commented, "This was an off-market transaction put to specialist parties who I knew were active in the area. This allowed us to keep confidentially and to move the deal on effectively and efficiently."
Camerons Brewery has disposed of 27 tenanted pubs for an undisclosed sum, selling the sites to FB Taverns as part of a strategic move to support growth across its brewery and managed pub division. The deal comes eight months after some of its franchised, leased and tenanted pubs in its portfolio were put up for sale. Camerons will continue to operate 47 pubs across the UK, and the business, which also sells beers and ales brewed at its Hartlepool brewery, will retain its managed pubs including its flagship brand, The Head of Steam, advises Caterer Licensee Hotelier News.
Restaurant closures reached the highest quarterly figure in a decade in the first quarter of the year, new data has shown, advises the Restaurant. Figures from accountancy firm Price Bailey reveals that 569 restaurant businesses entered insolvency in Q1 2023 and that a total of 2,028 businesses went insolvent over the past 12 months. This is a 55% increase on 2021/22 when 1,303 entered insolvency, it says. An average 5.6 restaurant businesses are going bust per day, up from 3.1 per day in 2021, it adds, many of which are restaurants.
Following a £1.3m acquisition of a former police station, Hydes Brewery is set to invest a further £2.3m in the development of the Heswall site, advises Pub & Bar. Set to open as The Harry Beswick later this year, the Merseyside venue will be converted from a vacant building into a new premium pub and restaurant. The purchase of the building is Hydes' first property acquisition in over five years. Heswall police station, originally built in 1911, has been empty for several years.
Young & Co Brewery said it is optimistic about the year ahead as it announced, for the first 13 weeks of 2023, revenue was up 8.3% in total and up 6.8% on a like-for-like (lfl) basis versus 2022. The London-based company citied "continued investment in improving and growing our premium estate" as the key driver to its performance. Young's added it is optimistic for the year ahead and is looking forward to the Rugby World Cup, which takes place this autumn in France, plus the warm-up fixtures preceding it in summer, reports the Morning Advertiser.
Guinness is to triple production of its zero-alcohol stout at its Dublin brewery in response to the growing consumer demand for no and low-alcohol drinks, reports The Caterer.