The Capital Pub Company has announced plans to buy the Rye in Peckham, south-east London for £1.37m.
The latest property deal will take the number of Capital pubs to 34 and comes hot on the heels of another purchase. Earlier this week it announced the purchase of the freehold of the Mansion pub in Dulwich, also in south-east London.
Capital's spending spree looks set to continue as it has also revealed that another acquisition is "in the hands of lawyers" and that is pursuing a number of additional sites in a bid to grow its portfolio to 45-50 pubs over the next two to three years.
Clive Watson, chief executive, said:"Both these properties perfectly fit the location and quality criteria that we require when adding pubs to our estate. We continue to make significant progress in building our estate towards our stated goal."
Contracts have been exchanged and the acquisition of the Rye is expected to complete by the end of the month.
By Janie Stamford
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