Property round-up

Operator and Star undertake £485k joint investment, Inn Collection expands, St Tudy reopens

By Nikkie Thatcher contact

- Last updated on GMT

Property news: which sites have been sold, refurbished or reopened recently?
Property news: which sites have been sold, refurbished or reopened recently?

Related tags: Property, Finance, Star pubs & bars, Multi-site pub operators

The latest property round up includes and Lancashire operator joining forces to invest almost half a million pounds, alongside the Inn Collection Group further expanding its estate, award-winning Cornish gastropub the St Tudy Inn reopening and more.

Multi operator undertakes £485k joint investment refurb with Star

Pub and restaurant multiple operator Yogesh (Yogi) Mistry has taken a new lease on a Lancashire pub and is undertaking a £485,000 joint investment on it with pubco Star Pubs & Bars.

White.Horse.Edgworth (1)

The White Horse in Edgworth, Lancashire has been closed since 2019 and will reopen in February next year, creating 12 jobs off the back of the refurbishment.

It is the third pub for Mistry, who also has the Crofters and the Stanley Arms, both in Bolton as well as an Italian restaurant – Beppe’s – and Nam Ploy Thai restaurant, which is in Middlebrook, Bolton.

Mistry said: “I am delighted to have taken on the White Horse. I had my eyes on it for some time as I could see its potential as a good village local and great destination pub.

“Edgworth is an affluent area, attracting walkers and cyclists and the pub had attracted significant interest.

“I intend to take on further sites in the north west. There are some great opportunityies arising on the back of the pandemic. However, having chefs and staff are key to successful expansion.

“It doesn’t matter how big you are, if you haven’t got a team behind you, you can’t open, as the current trading environment has demonstrated.

“Our team are our priority, which means we are in a strong position to grow the business. As well as staff retention and high service standards, I am passionate about establishing close ties with and supporting local businesses and community groups. We have done it at our three other sites and sponsor two local cricket clubs.”

Funding is being spent on reconfiguring the interior to create seating for 98 covers alongside new seating for 60.

Food will be a focus with head chef Jack Brooks having worked at a number of prestigious London venues.

Cask ales, an extensive wine list, Champagnes, cocktails, gin as well as whiskies and brandies will all be on the drinks menu.

The refurb is part of Star’s £38m investment across more than 700 of its pubs this year.

Inn Collection Group grows Yorkshire portfolio

The Inn Collection Group has acquired the 15th century Dower House and Spa in Knaresborough​ as part of its Yorkshire expansion, making its total estate count 26.

Inn Collection Dower House

The 38-bedroom Grade II-listed building features a spa, swimming pool and several bars, lounges and function areas, and will continue trading under the company’s ‘Eat, Drink, Sleep and Explore’ brand. 

A refurbishment programme is scheduled for 2022 where a restoration and remodelling of the building will take place to enhance its environment.

The House is centrally located in the town and is close to a railway station with connections to Leeds and York. The Victorian spa town Harrogate is nearby, along with the North York Moors and Yorkshire Dales National Parks.

The deal follows the group’s recent acquisitions of Dean Court Hotel in York and the Ripon Spa Hotel in Ripon with the expansion backed by OakNorth banking.

Iconic Cornish pub St Tudy now open again

Cornish craft brewery, Harbour Brewery, officially reopened the St Tudy Inn​ on Saturday 4 December in preparation to welcome customers for Christmas and New Year’s Eve celebrations.

Has-Harbour-Brewery-opened-the-St-Tudy-Inn-in-Cornwall_wrbm_large (1)

The multi award-winning brewer gained ownership of the pub in the summer and was only wet led, but new head chef, Siaka Touray has designed a new menu for the country pub.

As well as the new food offering, the St Tudy Inn has planned to convert two rooms to add to the four en-suite bed and breakfast rooms currently available above the pub.

£500k investment into Stonegate pub

Stonegate Group pub the Oak Tree in Norwich has opened its doors after a short period of closure following an investment of half a million pounds.

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The pub has been refurbished with a modern-rustic feel: secluded nooks and a conservatory are balanced out by the bar area, with wall features, eclectic furniture and fairy lights adding a personal touch and festive spark.

The pub will serve food from 10am to 9pm daily, with the menu including afternoon tea and Sunday roasts with bottomless Yorkshire puddings.

Sky and BT Sports are available across five television screens in the bar area, and ales and a gin of the month are included on the drinks menu.

The Oak Tree’s garden area now contains traditional picnic benches, heated areas and umbrella-shaded tables, and there is a wood burning stove in the pub’s interior.

‘Iconic’ Derby hotel comes on the market at £150k

The Old Bell Hotel in Derby is up for sale with a £150,000 price tag, property advisor Christie & Co has revealed.

Old.Bell.Hotel

In the heart of the city’s Cathedral Quarter, the inn dates back to 1650 and has played host to many guests including Bonnie Prince Charlie’s army and Paul McCartney.

Current owner, local businessman Paul Hurst acquired the venue in 2021 and conducted a three-year restoration project, worth more than £1m.

Hurst said: “After a decade of hard work, it is time to hand the baton over to someone else who can take the business to the next level.

“That is why we engaged Christie & Co, which I know will find the right owner to look after the building and fully appreciate its heritage and importance to our city.

“One of our greatest assets here is our team who share the same passion and drive for the building and our customers, to ensure they have the very best experience, whether popping in for a pint, relaxing with a coffee, enjoying a show or getting married.”

He highlighted it had been an honour and privilege to be the custodian of the Old Bell and was dreading his last day as it is likely to be emotional.

Hurst added: “Following the sale, I will be proud to join a long list of people who have made their mark on this incredible building over its 372-year history but our many loyal customers should be reassured it will continue to be business as usual throughout the transition to new ownership.”

The building features five bars and several function rooms including is Grand Regency Ballroom alongside a 60-cover restaurant.

The former hotel rooms are used as storage and office space, which could provide an opportunity for an incoming owner to reintroduce an accommodation offer.

Christie & Co senior business agent Gavin Webb said: “The Old Bell Hotel is a property of historic significance in Derby and opportunities of this nature rarely come to the market.

“New owners will have the opportunity to further develop the business by creating up to 12 letting bedrooms in the upper floors of the premises.”

Torquay hotel up for sale with £1.35m price tag

Fleurets has announced the freehold of the Coppice Hotel in Torquay is on the market for a guide price of £1.35m.

Coppice.Hotel.Torquay

The converted Victorian mansion spans four floors, has 39 bedrooms (each with en-suite bathrooms), a reception lounge, 50-coer bar and 80-coer restaurant alongside an indoor and outdoor swimming pool. Furthermore, there is space for about 30 vehicles to the front and rear of the building.

A spokesman for the owners Phoenix Commercial Property Development said: “We are delighted to be offering this landmark Torquay hotel back to the market, at a critical time for the Devon hospitality industry.

“The property’s recent past, having been sold as a fractional care home investment is an odd chapter in its history and we are pleased it is now returning to the Torquay hospitality sector.” 

Boundary London under new ownership

Harcourt Inns founder James McCulloch has bought Shoreditch venue the Boundary and will undertake an extensive refurbishment on the ground floor.

Boundary.London.Rooftop.orangery

The converted Victorian warehouse has a rooftop, 17 individually designed rooms, basement restaurant and events space and street-facing Albion Café.

The makeover will aim to make the Boundary a destination all-day bar and restaurant, transforming it into a sought-after drinking and dining destination.

McCulloch said: “The Boundary is an iconic building on one of the most desirable streets in east London.

“With an opportunity to create varying offers across multiple floors, we have excited plans to give this property a new lease of life.

“We are working with a leading design team to transform the various spaces and are putting together an impressive line up of chefs, artists, musicians and mixologists to help put the Boundary back on the London map.”

McCulloch founded Harcourt Inns in 2014 with the acquisition and refurbishment of the Harcourt in Marylebone before the development of the Three Cranes in the City, the Coach in Clerkenwell, the Hero of Maida in Maida Vale, the Crown in Chiswick and KPH in Notting Hill.

  • If you have any information regarding new openings or property details you think could be used in this weekly round-up section, along with hi-res landscape images, please email gary.lloyd@wrbm.com​​​​​​​​​​​ before midday on Tuesdays.

Related topics: Property law

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