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Fri 22nd Jul 2016 - Gorgeous Pubs buys Highgate venue from London Brewing Company, plans further acquisitions
Gorgeous Pubs buys Highgate venue from London Brewing Company, plans further acquisitions: Gorgeous Pubs, led by former Geronimo Inns employee Rob Laub, has bought The Bull in Highgate, north London, from London Brewing Company for an undisclosed sum. The off-market deal was secured by agent Savills, with Gorgeous Pubs looking to grow the group with further acquisitions. The grade II-listed, 5,000 square foot brewpub venue is set over two storeys and benefits from two trading floors, with customer seating for 140 and external terrace seating for 70. It also has a midnight licence for the sale of alcohol. Dating to about 1730 as a public house, The Bull is on the edge of Highgate Village and has a free-of-tie interest. London Brewing Company, which is headed by Dan Fox and also operates The Bohemia and O’Neills pubs in Finchley, acquired the venue in 2011 and carried out a substantial refurbishment. The business has an on-site micro-brewery, producing cask ales for sale in The Bull and for distribution. Gorgeous Pubs entered the London pub market in 2014 with the acquisition of The Prince Arthur in London Fields, Hackney. It also acquired The Shillibeers in Islington in late 2015, which was recently sold to West Berkshire Brewery. Laub said: “We are delighted to have secured the acquisition of The Bull and look forward to continuing the development of the business and becoming the heart of the community.” Fox added: “We are extremely proud of what the team has achieved at The Bull over the past five years, which would not have been possible without the support of our loyal customers. We wish Rob all the best with his new venture.” Chris Bickle, director of licensed leisure at Savills, said: “London Brewing Company took The Bull as a closed venue and developed a highly successful business over a short period of time. We are delighted to have secured an off-market deal to Gorgeous Pubs. Quality assets such as this, which are free of tie, unaffected by Market Rent Only option issues and with substantial unexpired lease terms, are highly desirable.” Paul Tallentyre, executive director at Davis Coffer Lyons, which acted for the purchaser, added: “Free-of-tie leases are increasing in value due to the uncertainty surrounding the leasehold market. The Bull is a great site with good potential to develop trade already established. Gorgeous Pubs is now looking to grow the group with further free-of-tie and freehold sites in London.”

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