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Convivial London Pubs PLC for sale for £16.9m

30 July 2013 by
Convivial London Pubs PLC for sale for £16.9m

Six-strong London-based pub firm Convivial Pubs is up for sale for offers in excess of £16.9m.

Specialist property advisor Christie + Co is handling the sale of the business, which is offered on a share or individual asset basis.

The pubs in Convivial's portfolio are:

The Mitre Hotel in Greenwich (offers in excess of £6m)
The Lamb Brewery and The Crown & Anchor in Chiswick (£2.8m; £2m)
The Clifton in St John's Wood (£2.9m)
The Botanist Brewery, Richmond TW9 (£2.5m)
The Hansom Cab, Kensington (£700,000).

Two of the pubs boast fully visible micro-breweries and offer off-sales potential, while The Clifton is the only pub in the portfolio without Grade-II listed status.

Neil Morgan, director and head of pubs at Christie + Co, said: "This represents a unique investment opportunity. All of the assets have significant potential for revenue maximisation, capitalising on their London positioning and the return of consumer confidence, where London is leading the way.

"The pubs would ideally suit central London operators who can slot these non-branded assets into existing portfolios, or regional pub companies seeking to take advantage of an ebullient London pub market."

Recent Christie + Co research has shown the London pub market in strong recovery, with a 10% increase in average sale prices in the year to July 2013, according to Christie + Co.

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