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Buckinghamshire pub famous for Chinese presidential visit sold to Chinese investors

By Liam Coleman , 05-Dec-2016
Last updated on 06-Dec-2016 at 11:40 GMT2016-12-06T11:40:58Z

Destination pub: the venue became a tourist attraction a visit from political leaders
Destination pub: the venue became a tourist attraction a visit from political leaders

The pub David Cameron visited with China's president Xi Jinping has been sold to Chinese investors.

The Plough at Cadsden, Buckinghamshire, is the nearest pub to the Prime Minister's country residence, Chequers, and became the 'most famous pub in the world' , according to the licensee after the now former PM's visit.

The pub subsequently became a tourist attraction for Chinese tourists and has now been snapped up by a group of Chinese investors in a sale brokered by Christie & Co's teams in both London and Asia.

Christie & Co's managing director of pubs and restaurants Neil Morgan co-ordinated the sale alongside Christie & Co’s head of Asia Dr Joanne Jia.

Morgan said: "We are really pleased to have completed the sale of the Plough to SinoFortune Investment. The pub became famous in Chinese circles following the visit of President Xi Jinping, and it has become quite a tourist attraction for Chinese visitors since, who are keen to sample the classic British food and beer that the president tried.

"The Chinese market has huge potential and many opportunities, so it is one that we will see more activity in over the coming months and years.

"Asian investors are becoming more interested in UK markets, particularly hotels, licensed and leisure and we are seeing more and more Chinese investors in particular coming to us showing an interest both in British hospitality and leisure opportunities, and also in taking classic British themes to China."

A fast-growing concept

SinoFortune Investment managing director Dr Peter Zhang, who purchased the pub, added: "We are so excited about this new strategic partnership and adventure, the English pub concept is growing very fast in China, and it's the best way culturally to link people from different countries and build friendships.

"We see bigger opportunities, namely countries lying between China and Europe in where we believe we could also export the UK brand internationally."

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