Pubs of Distinction set to leave industry

By Nikkie Thatcher

- Last updated on GMT

Up for sale: the Constitution in Camden, north London, is one of the three sites on the market
Up for sale: the Constitution in Camden, north London, is one of the three sites on the market

Related tags: Pubs

Multiple operator Pubs of Distinction is selling its three free-of-tie London sites as the company is looking to exit the market to concentrate on other businesses.
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The Pubs of Distinction group, which acquired its first site in 2010, the second in 2011 and the third in 2014, currently runs a total of three pubs – all in the capital.

The Dean Swift, formerly known as the Bricklayers, was the first site acquired by the group and is situated close to Tower Bridge, central London, and is known for offering craft beer and creative food offer from its single ground-floor bar area and a separate upstairs restaurant.

The Old Red Cow was added to the portfolio in 2011 and is a small but lively pub near Smithfield Market, central London. Known for its vast array of craft beers, which are served on tap and bottled, it is also popular for its food offer.

The Constitution, which was acquired in 2014, is one of the few remaining traditional English pubs in Camden, north London. Founded in 1858, the pub has a patio terraced garden and a south-facing outlook over Regent’s Canal, with a private hire area, outside bar, barbecue and TV area, while the downstairs cellar bar is host to regular live music and comedy events.

Substantial offers

Stewart Harkness, associate director at Christie & Co’s London office is handling the sale and said: “This is a unique opportunity to acquire a group of traditional pubs with favourable free-of-tie leases that are all achieving good levels of income.

“We expect good levels of interest so substantial offers will be needed to make sure the opportunities are not lost to competitors.”

These pubs are available as a group or individual on leases and offers are now being invited.

Related topics: Property law

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