Capital Pub Company sells three pubs to Young's

31 January 2008 by
Capital Pub Company sells three pubs to Young's

Capital Pub Company, the London freehold operator, has sold three of its pubs to Young's for £8.5m.

The three pubs are the Cock & Hen in Fulham, the Porchester and the Mitre, both in Paddington.

The combined profit of the pubs in the year to December 2007 was in excess of £400,000, but during this period the Cock & Hen was closed for a major refurbishment.

David Bruce, chief executive at Capital, said: "Our aim is to expand its estate to 50 outlets in the medium term. This deal significantly reduces our gearing, allowing us to take advantage of opportunities in the future."

Gearing is a measurement of the company's debt relating to assets owned.

Capital feels London boost >>

Capital Pub Company boss sees a future for drink-led pubs >>

Capital Pub Company continues with acquisition strategy >>

By Christopher Walton

E-mail your comments to Christopher Walton here.

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