Property round-up: Deltic adopts three Tiger Tigers

By Stuart Stone contact

- Last updated on GMT

Movers and shakers: recent moves made in the pub property market
Movers and shakers: recent moves made in the pub property market
New Tiger Tiger sites allow Deltic to enter northern markets, while sites in the south-west and south Wales changed hands.

Novus sells three Tiger Tiger venues to Deltic

Novus Leisure and The Deltic Group have exchanged contracts on the sale of Tiger Tiger sites in Newcastle, Manchester and Portsmouth for an undisclosed sum.

Novus chief executive Toby Smith said: “This is the second stage of our planned full divestment of our late-night estate following the sale of 15 sites to Stonegate in July.

“We are delighted to have agreed terms with the Deltic team, which will be a terrific owner of these iconic sites.

“They are acquiring three fantastic teams in great locations.”

The Deltic Group chief executive Peter Marks added: “We’re delighted with this acquisition.

“Located in dynamic, vibrant cities, each of these sites perfectly complements our existing portfolio, and will see us enter the Manchester and Newcastle markets for the first time.

“We look forward to welcoming the current Tiger Tiger teams to the Deltic family.

’’Our intention is to trade seamlessly through until the summer next year, whereby each of these sites will be rebranded to a new concept that is currently under development.

“It will reinvigorate and modernise the very essence of the original Tiger Tiger vision, a multi-roomed, cross-occasion, food, drink and dancing all-day venue.”

Licensees take on second pub in south Wales village

Licensees Kathryne and David Thomas have taken on the Poundffald, their second pub in Three Crosses village on the Gower peninsula near Swansea. 

The Star Pubs & Bars site is the couple’s first leased pub.

Work recently began on a £100,000 joint refurbishment with Star that will add a new beer garden, heated huts to the site, as well as provide a upgraded interior.

The couple also run the village’s wet-led freehold the Joiners Arms.

Kathryn Thomas explained: “The pub had lost its way recently and the people running it were always changing. 

“As a result, villagers stopped using it. 

“When Star Pubs & Bars acquired the Poundffald and the opportunity to lease it came up, we jumped at the chance to take it on. 

“We live in the village and wanted to give Three Crosses residents what they wanted a great place to eat and drink.”

 

Devon venue sold by Stonesmith

South-west-based property agent Stonesmith has sold the Prince of Wales in the Dartmoor village of Princetown, Devon, off an asking price of £99,000.

The business was bought by local businessmen, Jan Hayes and John Burbage, who commented: “We are delighted to be the new proprietors of the Prince.

“The pub will undergo a complete refurbishment with new menus and daily specials.

“We look forward to meeting customers old and new for good food and drinks.”

Stonesmith’s Mike Phillips added: “We anticipated strong interest in the Prince of Wales and we received multiple offers within a month of coming to the market. 

“The terms were swiftly agreed with Jan and John.

“They have great plans for the Prince and we wish them every success with their latest venture.”

To find out more about pubs for sale, lease and tenancy visit our property site​.

Related topics: Property law

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