Fleurets market freehold investment let to Revolution
Fleurets is marketing nine freehold pub investments currently let to Revolution Bar Group. Instructed by real estate investment firm Aprirose, the investments are available for a combined sum of £20,200,000. The properties all have identical FRI leases, with 14 years unexpired and a total rental income of £1,461,430 p.a., reflecting a 6.78% net initial yield. The properties are available individually or as a package. Please see further information here.
EasyHotel announces plans for 145-bed Bristol hotel
The Caterer has reported that budget hotel company EasyHotel is seeking planning permission for a freehold site in Bristol, in order to develop a new 145-bed hotel. The development is set to launch in 2010 and is located 0.5 miles from Bristol Temple Meads. EasyHotel has also received planning permission for an Oxford site, which is also expected to launch in 2010.
Beds and Bars reports 5.3% increase in turnover
Pan-European hostel operator, Beds and Bars has reported a 5.3% increase in turnover to £51,935,764 for the year ending 31st March 2018, reports Propel Info. Furthermore, EBITDA before exceptional items increased by 13.3%.
Mowgli Indian street food restaurant announces expansion
Indian street food restaurant Mowgli, founded by Nisha Katona and backed by Foresight Group, has announced plans for growth, with sites in Preston, Cardiff and Sheffield in the pipeline. Having launched their first site in Liverpool in 2014, Mowgli recently launched a second site in Manchester. Propel Info reports that the restaurant's estate stands at six sites so far.
Livelyhood pub group announce 29.35% increase in turnover
South London pub group, Livelyhood, has announced a 29.35% increase in group turnover for the year ending 31st July 2018, attributed to the opening of The Faber Fox in Crystal Palace. As reported by Pub and Bar Magazine, this marks Livelyhood's most successful year to date and the group are planning for further expansions this financial year.
Propel Info reports that the team behind Birmingham's La Galleria and Sedgley's Cafe Casita has launched Pinocchio in the former Strada in Birmingham's Mailbox.