The Board of Convivial, which owns a portfolio of primarily freehold, managed pubs in London , has engaged Christie & Co to offer the company for sale on a share, or individual asset basis, with offers in excess of £16.9m sought.
The Company recently exchanged contracts for the sale of the Pakenham Arms for cash of c£1.4m, with completion expected in October 2013. The pubs within the Estate which are for sale include five freeholds and one very long free-of-tie leasehold (994 years with nominal £1 pa ground rent). Two have successful micro-breweries that are fully visible and operating within the public trading areas, offering a possible platform for regional brewers to showcase their expertise and range in the capital.
The pubs available are:
- The Mitre Hotel, Greenwich SE10 – freehold – offers in excess of £6 million
- The Lamb Brewery, Chiswick W4 – freehold – offers in excess of £2.8 million
- The Clifton, St John’s Wood NW8 – freehold – offers in excess of £2.9 million
- The Botanist Brewery, Richmond TW9 – freehold – offers in excess of £2.5 million
- The Crown & Anchor, Chiswick W4 – freehold – offers in excess of £2 million
- The Hansom Cab, Kensington W8 – long-leasehold – offers in excess of £700,000
All the pubs are well-established on the London circuit and have benefited from major capital investment in recent times. Each has its own charm and personality while, with the exception of The Clifton, all the pubs are Grade II Listed.
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