PROPERTY ROUND-UP
The Rainbow Inn off market, Black Diamond opens third pub, coaching inn reopens after £700k investment
Historic country pub off the market
The Rainbow Inn, Cooksbridge, East Sussex, has been taken off the market after being purchased by Philip Randell.
The traditional pub had been on the market with leisure property specialist Fleurets, and is situated 10 minutes from Lewes and 20 minutes from Brighton.
Made up of a bar (12 covers), main restaurant area (40 covers) and a restaurant/function room (30 covers), the property also boasts significant extensive external seating as well as three double bedroomed accommodation.
Randell said: “My wife and I have dreamt about running our own pub for over 20 years and it has finally happened.
“Our son has spent the last five years working in the industry so with his experience and our enthusiasm we decided the time was right and then the Rainbow at Cooksbridge became available.”
He would look to build on the pub’s reputation for its Sunday and Wednesday carvery, while making improvements where possible.
City pub available to let after 10 years of closure
The Black Horse, Gosta Green, Birmingham has been brought to market by Fleurets after 10 years of closure.
The property is located at the corner junction of the A47 Jenner Road and Woodcock Street. Before its closure, the pub was a music venue and popular student pub.
What’s more, the venue has been cleared down to its bare brick. Given the level of investment required, Fleurets envisage a minimum of a 15+ year lease but invite all sensible proposals. Alternatively, a considerably longer lease subject to a premium and peppercorn rent may be considered.
18th century coaching inn reopens following £700k investment
The Coach and Horses in Priestpopple, Northumberland has reopened following a £700,000 investment.
Owned by Admiral Taverns, the pub has received the company’s biggest investment in Admiral’s history to date, in partnership with Northumberland County Council and Historic England.
Alongside Admiral Taverns’ and licensee’s – Fiona Beck – total investment of £460,000, the pub was awarded by £240,000 by the county council and Historic England through the Hexham High Streets Heritage Action Zone scheme. This initiative aims to revitalise the town’s historic centre.
Beck has 30 years of experience in the hospitality industry. She commented: “I have loved every minute of running the County Hotel with Admiral Taverns so when the opportunity to take over the Coach and Horses came up, I couldn’t refuse it!
“It had always been my dream to become my own boss and run my own pub so the fact I now run two incredible Hexham pubs is fantastic. I am so excited to re-establish its presence within the area and showcase its refreshed look to new and existing customers.”
Admiral Taverns business development manager Stephen Birkett said: “We are absolutely delighted with the refurbishment of the Coach and Horses. It looks fantastic! It’s been a pleasure working alongside Northumberland County Council and Historic England and supporting Fiona to bring her vision come to life.
“I have no doubt that she is the perfect licensee to take the pub forward, a cornerstone of her community and she has really bought people together. We wish her the best of luck and can’t wait to see what the future holds for this brilliant local pub.”
Industry expert takes on lease of the Walpole pub
Fleurets has announced the letting of the Walpole, New Cross, south east London, to industry leader Stephen Cox.
Cox, who has more than 20 years of experience in hospitality, said: “I’m delighted to have leased the Walpole and look forward to building the brand and business in the local area.
“We will be re-opening at the end of August, offering craft beers as well as a fresh and inventive cocktail selection.”
Prominently situated on New Cross Road and sitting adjacent to New Cross train station the Walpole was originally purchased in shell condition and the landlord completed a comprehensive fit out suited to food and drink offerings.
Fleurets London senior associate Simon Bland added: “Despite the unprecedented challenges facing the industry, it is very pleasing to report a new start for the Walpole and I wish Stephen and his team the very best for the future.
“We received lots of enquiries and several offers for this prominent and fully equipped site, which I think highlights the demand we are experiencing for such opportunities.”
Black Diamond pubco opens third pub in 12 months
Black Diamond Pub Company has taken on its third pub with Greene King Pub Partners – the Three Tuns – in Bddenham, Bedfordshire.
Ahead of its reopening, the Three Tuns has been transformed with a joint investment in excess of £300,000.
The revamp includes a full indoors refurb with a redesigned bar and new furniture. Outside, the pub has new signage, décor and sail coverings.
The kitchen of the pub has also been refurbished and will use locally sourced products from Bedfordshire as well as produce from quality suppliers further afield.
The Black Diamond Pub Company founder Matt Henman said: “As a growing pub business, I am delighted to have opened our next pub in partnership with Greene King – the Three Tuns in Biddenham.
“We have built a strong relationship with Greene King Pub Partners through difficult trading times, and when the opportunity came up to take on the Three Tuns, we jumped at it. The pub has everything we look for – local village pub setting with the space and features needed to implement our high-end, food-led offer.”
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