17 June 2013

A tale of two houses

When the City Pub Company wanted to add two more high quality London premises to its growing portfolio, it needed the help of a discreet, dependable and knowledgeable licensed leisure agent – which is why it turned to AG&G.

“We were able to put our detailed knowledge of the London licensed property market and contacts to good use finding a pair of pubs that fitted their rigorous requirements,” says AG&G’s David Gooderham, who brokered the sales.

“With our help, they acquired the Lighthouse in SW11 and the Roundhouse in SW18 in an off-market deal worth just under £3 million. These are the fifth and sixth premium pubs we have matched City Pub Company up with and we hope to be sourcing more great sites as they move ahead with their expansion plans.”

City Pub Company bought the two South-London gastropubs from Charles Peel. The purchase was part of the operator’s declared intention of increasing its portfolio from its present total of 11 sites to 20 by the end of 2014.

The company has recently raised nearly £10 million through two Enterprise Investment Schemes to fund the expansion programme, which will focus on London and other towns and cities across southern England.

For more information, please contact David Gooderham on 020 7836 7826, e-mail dgooderham@agg.uk.com or media@agg.uk.com.

AG&G are chartered surveyors specialising in the licensed leisure industry, with the skill and experience needed to value, assess or promote a property not simply as bricks and mortar but as a business. If it involves the price of a licensed premises, its profitability, rental value, investment prospects or value in a dispute, AG&G can help.

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