The Newcastle-based Cairn Group has acquired the Parish café-bar in York, located in a Grade II-listed converted 11th century church development.
Retaining all 17 staff, the hotel and bar operator plans to improve the site over the coming months, using funding from a £700,000 pot set aside for refurbishments to its growing portfolio of venues.
The Parish was formerly an arts centre, prior to its conversion to a public house.
The acquisition is the first standalone bar venture outside of its home region for the Cairn Group, which completed a £101m refinance deal earlier this year. In May the Company announced plans to put £50m of the funds raised towards an acquisition-focused growth and strengthening of its UK-wide portfolio, which includes 26 hotels and more than 30 bars and restaurants.
Over the past five years, the group has spent over £40m acquiring and improving assets. Its portfolio includes the four-AA-star, 39-bedroom Stoke Place hotel in Buckinghamshire and the 114-bedroom Ramada Glasgow Airport hotel.
Cairn Group director Naveen Handa said: "We're really excited to have secured this opportunity in York. The Parish is a truly stunning building with huge potential and our location is ideal for passing footfall.
"The team on-site are all staying on and we'll be introducing a training programme to formally bring them on board with Cairn Group. The bar will no doubt be a great asset for us and we're looking forward to getting involved in York's vibrant leisure scene."
Mincoffs Solicitors and HSBC supported Cairn Group on the acquisition of the Parish.
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