Punch lessee buys £1m freehold
Punch lessee and gastropub operator Michael Kittos has bought the freehold of his pub the Queen's Head & Artichoke in London.
Queen's Head: Micahel Kittos has bought freehold
Kittos bought the pub for an undisclosed sum off an asking price of £1m.
The pub is located between Great Portland Street tube station and Regents Park.
Kittos obtained funding through Marlborough Finance who arranged a bank loan for a “substantial six figure sum”.
Chris Heard, partner at the finance firm said the new owner was very pleased with negotiations, adding, “where he to sell this pub as a going concern on the open market, it would fetch well in excess of the price paid”.
Kittos has been in the trade for the past 15 years, and also operates the Norfolk Arms in Leigh Street WC1. He became one of the first gastropub operators when he started the Peasant in Clerkenwell, which he no longer owns.
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