PROPERTY ROUND-UP

Red Oak Taverns snaps up site, pubs hit market

29-Mar-2023 - Last updated on 29-Mar-2023 at 08:38 GMT

Up for grabs: Plenty of pubs around the UK have been brought to market this week

Pubs across the country have hit the market as Red Oak Taverns makes its fourth acquisition of the year.

Red Oak Taverns makes fourth acquisition of 2023

Multi-site pub operator Red Oak Taverns has bought the Crown in Romeland, Waltham Abbey from McMullen’s, marking its fourth acquisition of the year.

The traditional pub is in the Epping Forest part of Essex in the market town of Waltham Abbey and hosts more than 70 covers across its internal and external areas.

There are plans in place to invest in improvements at the pub and it is operated by new tenant Nancy Tobias.

She said: “I’m looking forward to creating a family-friendly community pub with a new food menu and welcoming everyone back.”

Bar & bistro hits market

The Horse & Farrier in Otley, West Yorkshire has been brought to market by leisure property firm Fleurets.

The site is currently operating as a bar with letting rooms under full management and offers real ale and traditional food to the local market and has been supported by various groups, clubs and societies.

The free of tie lease is now available to purchase at Nil Premium.

Furthermore, a modernised open plan bar with 80 covers is offered a the site, as well as a full-fitted catering kitchen, four en-suite letting bedrooms and a one-bedroom apartment.

Externally, there is a courtyard used as a patio capable of seating 60 to 80 people and beyond that is a car park for up to six vehicles.

Fleurets director Simon Hall said: “The business is ideally suited to an owner operator or a local multiple, wanting to promote a community tavern operation and to maximise the use of the letting rooms throughout the year.”

Community pub comes to market

The Royds Arms in Spotland, Rochdale has been brought to market by Fleurets.

The pub is located in Greater Manchester near Rochdale football ground and within a mainly residential area.

It operates as a community pub catering for a predominately local trade with 100% wet sales.

On the premises there is also a beer garden, three trading rooms, a customer car park and three-bedroom owners accommodation.

The freehold is now available to purchase off a price of £250,000 plus VAT.

Fleurets director David Sutcliffe said: “The property would ideally suit a private operator who would have the benefit of living accommodation.”

Investment property brought to market

New to market with leisure property specialists Fleurets is Dibbinsdale Inn, Bromborough, Wirral, Merseyside.

Fleurets have been instructed to seek offers in excess of £1,000,000 for the freehold investment interest of the restaurant.

A purchase at this level reflects a Net Initial Yield of 7.09% assuming standard purchaser’s costs.

The 8,975 sq ft property is let to Pesto Restaurant Limited who currently operate 10 restaurants throughout the Midlands and North West of England.

The property has been trading as an Italian style restaurant with letting accommodation comprising of 12 ensuite rooms.

Currently, the freehold is being let on an FRI lease expiring on 18 November 2037, and the lease information is available upon request.

The trading areas are presented in an open plan format offering more than 100 covers and has been refurbished and fitted out by the current tenant. There is a 30-space carpark to the back of the site.

Fleurets director David Sutcliffe said: “Fleurets are delighted to bring the Dibbinsdale to the market. This a rare opportunity to acquire a quality investment on the Wirral and we anticipate strong interest from private and corporate investors.”

Community pub unveils new garden

The Florida Park, a community pub on Battlefield Road in Glasgow, Scotland, will unveil its new garden on Saturday 25 March after a refurb of nearly £85,000.

The pub is next to Hampden Park football stadium, and its garden will reopen just in time for Scotland’s UEFA Euro 2024 qualifying game against Cyprus.

Transforming the site’s overall offering, the beer garden has been reimagined to create a vibrant, inviting space for year-round use.

The Florida Park is part of Proper Pubs, Admiral Taverns’ community wet-led operator business, The pubco, which owns community pubs across England, Scotland, and Wales, funded the investment in partnership with Tennent’s Lager.

Florida Park operator Elaine Ferrie said: “I am absolutely delighted to be unveiling the Florida Park’s brand-new beer garden to my customers!

“It’s been incredible seeing my vision come to life and I couldn’t be happier with how it’s turned out. It looks amazing and I can’t wait for my customers to experience it.”

The new garden will boast an extensive outdoor bar featuring festoon lighting and a mural painted on one side by local artist, Gillian McNeill.

Throughout, the area will host an eclectic mixture of colourful furniture to link with the pub’s industrial feel inside and will comfortably seat around 70 customers, or 125 standing.

In addition, a selection of exotic and traditional garden greenery will be introduced – including hanging baskets, potted plants, and small trees to give it a fresh, welcoming feel.

The garden will also receive brand new decking in one section to host large undercover, heated area and plenty of seating to ensure it can be used all year round.

Proper Pubs operations director Matthew Gurney said: “Elaine and the team have done a fantastic job with this refurbishment.

“It looks incredible and has far exceeded all my expectations. This really was the finishing touch to an already cracking pub so on behalf of everyone at Admiral Taverns and proper Pubs, I’d like to thank Elaine for her continued hard work, and I wish her and the pub every success in the future.”

Historic city pub reopens following makeover

The Sugar Loaf in Cannon Street, central London, recently reopened following an extensive refurbishment.

Guests can enjoy British food including burgers and classic main dishes. What’s more, the drinks menu features gin options, cask, craft beers and world lagers.

The Grade II pub also hosts events year-round such as coverage of the Six Nations rugby tournament and its annual Whiskey Showcase.