Property round-up

£2.5m Fourpure revamp, 13 grassroots venues safe from ‘immediate threat’, community group buys local

By Stuart Stone contact

- Last updated on GMT

Property moves: which sites have been reopened, revamped or changed hands in the past week?
Property moves: which sites have been reopened, revamped or changed hands in the past week?

Related tags: Property, Music venue, Freehouse, Pubco + head office, Finance

This week’s property round-up includes the completion of a seven-figure refurb at Fourpure’s brewery and 13 grassroots venues being removed from the Music Venue Trust’s ‘red list’.

Fourpure completes £2.5m expansion

Bermondsey-based Fourpure Brewing Co – part of the Lion Little World Beverages quartet of craft beer brands – has concluded its £2.5m expansion at its London home with new kegging and canning lines.

Steve Morris, head of operations at Fourpure, said: “We’ve always had a state-of-the-art canning line but previously it was a little like a racehorse on a grey hound track, this latest suite of updates makes us Ascot-ready. 

“The new, completely bespoke designed kegging and canning facilities will form a crucial part of our continued expansion and future success. 

“The demand for our canned beer has doubled since the beginning of the Covid-19 pandemic, and the improved facilities mean we can fulfil this increase in sales, while still meeting world-class hygiene and safety standards.

“Carrying out this update in current times has obviously brought its own challenges and I am incredibly proud of the excellent safety standards our team met throughout,” he added. “We were also really happy to be able to support a number of contractors during this process, many of them smaller businesses and many brewing specific.”

Fourpure

80% of nightclubs 'won't survive past February'

This year will see the “extinction of nightclubs” without urgent action, one trade body has warned.

As reported by The Morning Advertiser (MA)​, a survey of more than 100 nightclubs from the Night-Time Industries Association (NTIA) found more than three quarters (81%) said they would not survive past the end of February without further support from the Government.

Some 86% of those surveyed had made redundancies with more than 65% making over six in 10 of their workforce redundant before the end of last year.

It also revealed almost half (43%) of respondents had not received any grant support from the Government.

NTIA chief executive Michael Kill said the nation was on the cusp of losing a cultural institution and claimed the Government had ignored the sector and failed to recognise its economic and cultural value.

Read more here

Local investor acquires pub freehold off £325,000 asking price

Scallys, a wet-led pub on the North Somerset coast, has been sold on a freehold basis off an asking price of £325,000 after 27 years under the ownership of operators Dawn and Kevin Coupe.

The two-storey detached building built in Weston-super-Mare during the 1930s, has built a strong reputation due to its regular live music nights as well as dart and pool competitions during the winter.

The business has been purchased by the Kimitri family, a local buyer who has various investments within the area, including the Bare Grills Smokehouse.

“We are very pleased to add Scally’s to our portfolio,” Vas Kimitri said. “The venue will remain closed to undergo a vast refurbishment, bringing it in line with today’s market. 

“It will remain as a bar whilst incorporating a new food offering in a cool and casual environment.”

Dawn and Kevin Coupe added: “We are thrilled to have completed on the sale of Scallys. 

“We wish the new owners the best of luck and look forward to seeing their plans for the venue come to life.”

Scallys

US firm Oaktree behind Rooney Anand’s pub investment

Former Greene King boss Rooney Anand’s pub investment firm has been backed by an American financing business, according to reports.

Los-Angeles-based business Oaktree is providing the finances behind RedCat Pub Company, The Telegraph ​revealed.

Anand, who headed up Greene King for 15 years until 2019 before joining Casual Dining Group as chairman, told The Telegraph​: “There is no set playbook. I am not trying to recreate Greene King. I see myself as someone who’s investing in a sector that has been oversold, where people have taken cover and written it off and have been quick to say ‘it’s not going to recover’.

“I’ve always been a strong believer in the great British pub. It has survived the Blitz, the Great Plague and the credit crunch – always bouncing back and taking its rightful place at the heart of the community. There will always be a market for a decent pub.”

Read more here​ 

Rooney-Anand-to-invest-200m-in-pub-sector_wrbm_large

Music Venue Trust removes 13 grassroots venues from ‘Red List’

As reported by DIY​, the Music Venue Trust has announced that 13 of the 30 grassroots music venues included on its the Red List have been removed from “immediate threat” – including a number of pubs.

The news comes after the Trust introduced its “Traffic Light” campaign in November.

“We want to thank every artist, every audience member, every member of our community for taking direct action which means we are able to remove these 13 venues from the Red List right now,” Mark Davyd, CEO of Music Venue Trust, said. 

“The love shown for these venues continues to demonstrate how important they are to people and to our towns and cities. 

“Music Venue Trust is committed to reopening every venue safely and we are going to carry on working through this crisis until that outcome is achieved.” 

The 13 venues said to no longer face “immediate threat” are:

  • Arden Inn, Accrington, Lancashire
  • Backstage, Kinross, Scotland
  • Boulevard, Wigan, Greater Manchester
  • Four Horsemen, Bournemouth, Dorset
  • Gellions, Inverness, Scotland
  • Hootenanny, Inverness, Scotland
  • Plot 22, Sheffield, South Yorkshire
  • Rossi Bar in Brighton, East Sussex
  • Strange Brew, Bristol
  • The Brunswick, Hove, East Sussex
  • The Grand Elektra/ The Crypt, Hastings, East Sussex
  • The Railway Inn, Winchester, Hampshire
  • Waterloo Bar, Blackpool, Lancashire 

18th​ century pub sold to parish council and community group

Specialist business property advisor, Christie & Co, has completed on the sale of the Plough Inn in Longparish, Hampshire, to the local parish council with the backing of the community group, Plough Ahead.

Situated five miles east of Andover, the village is a popular destination for fishermen, cyclists and walkers and is only a short distance from the Bombay Sapphire Distillery.

The pub has been serving passing travellers since 1721 and prior to closing its doors in December 2015, it was a well-known destination pub owned by Great British Menu chef James Durrant and winner of a BIB Gourmand rating two years running. 

It was also awarded two AA rosettes and has been included in the 2014 Michelin Guide.

Now, the business has been purchased by the local parish council and will be leased to the local community group, Plough Ahead, which was formed by a group of Longparish residents in 2018 to raise funds to buy and restore the inn.

Funds to refurbish and run the pub have been raised by selling shares to local residents and supporters further afield. 

“We are so pleased to have the opportunity to reclaim our beautiful pub and are really looking forward to bringing it back to life for the benefit of the whole village, as both a pub and community hub,” Andy Jolliffe, chair of the Plough Ahead group commented. “Our plan now is to refurbish it and be ready to reopen by the end of June. 

“Ultimately, we want to create a fantastic rural pub with craft beers and local spirits, along with a great quality restaurant that serves excellent pub food, with two or three smart, comfortable bedrooms for overnight guests, plus create new community facilities alongside.  It will be a challenge, but one that we will all relish.”

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

Related topics: Property law

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