Following its £10m EIS fund raising in December 2013, The City Pub Company is pleased to announce that it has, through Davis Coffer Lyons, acquired its first sites in Central London – Dalys Wine Bar and Bierschenke. The combined consideration was circa £1m.
The two new additions, which will become part of The City Pub Company (East), headed-up by Clive Watson and Rupert Clark.
Dalys Wine Bar (above) is long established as one of the most popular wine bars in London, and is situated on the strand (WC2), benefitting from its proximity to The Royal Courts of London. The site includes a dedicated wine bar, full service restaurant and a private function room. (www.dalyswinebar.co.uk),
Bierschenke (below) is a premium Bavarian Beer House situated on Essex Street (WC2) and has a menu ranging from steins of Paulaner Weißbier to Hühnerbrust mit Serviettenknödeln (grilled chicken breast with dumpling). (www.bierschenke.co.uk)
Following completion, Dalys Wine Bar will undergo refurbishment while Bierschenke will remain as a Bavarian beer house. The City Pub Company will have a combined estate of 15 sites.
Clive Watson, CEO and founder of The City Pub Company, commented: “We are very excited to be adding these two sites to our growing portfolio of high quality, managed pubs. Dalys has long been a target for me personally and I am really glad that it is our first site in Central London. Over the last two years we have built a portfolio of great pubs and bars across the south of England. I am confident that today’s additions will fit well within our estate and we look forward to operating them going forward.”