J D Wetherspoon
Acting on behalf of a major national bank, Christie + Co has valued 17 J D Wetherspoon investments spread across the UK, with a number based in London. Investment valuations and vacant possession values were provided.
S&NPC (now Star Bars)
Following the recent purchase of in excess of 900 pubs by Heineken from RBS, the new owners are committed to the CAPEX programme for their leasehold estate which Christie + Co has been closely involved in over the last few years. Recent investments have included the Red Lion in Bracknell where a £200,000 spend has revitalised the pub into a top quality open plan eating and drinking establishment in the town centre.
Alpha Real Investment Fund
2012 saw the disposals finalised on four freehold properties which made up an investment fund for Alpha Real Capital. The Crown at Aston End, Stevenage and the Saracens Head in Dunstable sold to local operators, whilst the Woolpack in Wisbech went to a first time buyer and the Dog & Gun in Little Waltham was snapped up by a local operator and investor. Asking prices ranged from £295,000 to £495,000.
Close Imperial (Alpha Capital)
Following the recent completion of the Alma in Chelmsford to the Arizona Group in December 2012, Christie + Co has now completed the disposal programme of all the freehold assets for the Close Imperial Pub Co, an EIS scheme which was set up in 2007. The other properties sold in 2012 included the River Lodge in Colchester, which was taken by a local multiple operator, the Swan at Chappel, Essex sold to Flagstone Inns and the Angel Inn, Stoke by Nayland, Essex sold to Exclusive Inns. Earlier sales included the Crown Point Inn in Sevenoaks which went to the Orchid Pub Co and the Lamb on the Strand in Wiltshire which was taken by a local multiple operator.
Acting on behalf of Punch Taverns Christie + Co has seen a high percentage of their original instructions now sold with at present, around 40 properties still available, with a number of these in legals. Of the pubs sold it is interesting to note that over 60% of these have been retained for licensed use with over 75% of purchasers living within a 10 mile radius of the pub they have purchased. Buyers have varied from national managed house pub operators and regional brewers/operators to local property investors, with freehold prices ranging from £50,000 to in excess of £700,000. Since the demerger of Spirit in August 2011 Punch Taverns leased estate encompasses in excess of 5,000 pubs nationwide.
Spirit Pub Company
With instructions from Spirit on a number of high street bars, traditional pubs and late night venues, Christie & Co have completed on a number of sales across the UK through their network of 14 offices. Recent sales include the Baja Bar in Bristol on the Cannons Rd Leisure development, Bar 38 on the Quayside in Newcastle, The Grape in Edinburgh, a converted Banking Hall on George St in the City Centre and Bar Edge adjacent to the Merry Hill shopping centre in Dudley West Midlands. The Spirit Pub Co, having demerged from Punch Taverns in August 2011, operate 800 high quality branded pubs nationwide with over 16,000 dedicated employees, with leading brands such as Chef & Brewer, Flaming Grill and Fayre & Square.