Cirrus Inns receives almost £12m backing from Metro Bank

By Nikkie Sutton

- Last updated on GMT

Capital purchases: the Sands End in Fulham, west London is one of the three new sites Cirrus Inns has acquired (credit: Google street maps)
Capital purchases: the Sands End in Fulham, west London is one of the three new sites Cirrus Inns has acquired (credit: Google street maps)
Cirrus Inns has received £11.67m in funding from Metro Bank meaning the multi-site operator can acquire more venues.

The new debt facility means the pub group can buy the freeholds of the Cross Keys in Chelsea and the Sands End in Fulham, both in west London, as well as the free-of-tie lease of the Brown Cow, also in Fulham.

The new acquisitions brings Cirrus’s London estate to five pubs and the overall portfolio to 23.

The group raised an additional £10m of equity, which went towards the purchase and will be used to fuel further growth.

Cirrus Inns chief executive Alexander Langlands Pearse outlined what the new sites means to the company.

Retain individuality

He said: “These are three great pubs run by great people and in amazing locations, which will crown our overall estate.

“We don’t want to lose the individuality of ours pubs, but having five gives us a great platform in the capital that complements the approach we have taken in our pubs across the rest of the country.

“This marks the first time we have brought some senior debt into the company.”

He highlighted the reasons behind the backing from Metro Bank and said: “We looked at a number of options to do that and Metro Bank was by far the most attractive."

Future growth

He added: “They have been incredibly supportive in terms of this acquisition and going forward into chapter two of Cirrus Inns.”

Metro Bank head of hospitality and leisure Matthew Walton lauded the deal with Cirrus Inns.

He said: “The management team behind Cirrus is exceptionally strong and they have built an exciting estate, which these new acquisitions complement very well.

“We look forward to supporting the future growth of Cirrus with additional facilities over the years to come and maybe even pop in for a pint or two!”

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