Realpubs unveils £50m war chest
London pub company Realpubs has unveiled a £50m war chest to build a freehold estate in the Capital.
The operator has unveiled a joint venture with financial backers Brockton Capital under the name Realpubs II with Brockton providing access to finance as well as looking for real estate investment opportunities.
Realpubs was set up in 2002 by Malcolm Heap and Nick Pring after they left Whitbread to build their own pub business.
It acquired its first leased site, the Metropolitan in Westbourne Park, in 2002.
The business has now grown to seven pubs across North and West London most recently opening of the Duke of Sussex, Acton Green, in August 2007.
David Zimmermann, managing director at Brockton, said: "The difficulty in the pub sector is finding a quality management team to partner and Brockton is delighted to have found Malcolm and Nick.
"We have a track record of taking underperforming assets and turning them into quality urban locals, which trade strongly from both the kitchen and the bar."
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By Christopher Walton
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