Meantime Brewing Company has announced plans to close its Old Brewery restaurant and microbrewery at Old Naval College Greenwich in order to focus its efforts on other opportunities.
The craft beer business, which was bought by SABMiller for an undisclosed sum in May, has operated the restaurant since 2010. The site will be marketed for sale and Meantime will work with the college to find a buyer.
It said that it plans to divert the resources saved towards other retail opportunities, including the Tasting Rooms, which opened earlier this year and is expected to host around 20,000 people on brewery tours by year-end.
The Union pub in Greenwich and the Beer Box concept at London venue the O2 will also benefit from an increased focus as a result of the closure, the company said.
Meantime is installing a new pilot brewery at its main site that the company said will lead the business' innovation agenda while at the same time replacing the smaller microbrewery at the Old Royal Naval College. It is set to be in operation by the end of November.
The investment will see Meantime able to create a minimum of 26 new small-batch beers per year under the leadership of brew-master Alastair Hook, who will oversee the brand's innovation programme.
"Since 2010, The Old Brewery restaurant has been a successful business and a great platform for us to engage with our followers and share great beer. However, it's time to move on and for us to refocus our future retail plans. The restaurant has fantastic history and heritage and will always have a special place in the Meantime story, but at the same time we want to explore opportunities where our beer is the star of the show," commented Nick Miller, chief executive of Meantime Brewing Company.