City Pub Group snap up sites in Soho and Oxford for over £4m

City Pub Group has acquired two pubs in London's Soho and Oxford, which will bring its total portfolio to 54 sites across the south of England and Wales.

Cocktail bar Simmons Bateman Street in London has been acquired as a freehold investment for roughly £3.875m.

City Pub Group has also snapped up the Plough in Oxford, a 230-cover leasehold property known to be one of the city's oldest pubs, for approximately £330,000.

The company said it would continue to seek opportunites to purchase further pubs in areas it already operates.

The Plough is due to undergo a "modest refurbishment" under its new ownership, which will preserve its heritage features.

Clive Watson, executive chairman of City Pub Group, said: "We are delighted to secure the acquisition of these two pubs both of which are in locations where we have existing pubs nearby.

"Soho is a fantastic trading locale with high footfall from tourists, theatre goers and residents alike and we're confident the acquisition will be a good long term investment.

"The Plough is in the heart of Oxford, traded extremely well last year and we have exciting plans to reposition it to further maximise its potential."

Watson said the company was looking at similar acquisitions and focusing on organic sales growth.

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