Acting on behalf of Scottish and Newcastle, Enterprises Christie + Co marketed 18 leasehold opportunities all of which are scheduled for major capital expenditure. The properties were available on a traditional tie basis located throughout the United Kingdom from Truro in the South to Inverness in Scotland.
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.
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.
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.
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.
Former Total Fitness - Stoke on Trent
Christie + Co has sold the former 63,000 sq ft Total Fitness Health Club in Stoke-on-Trent. It was sold to local entrepreneur and health club owner/operator, Mo Chaudry, for an undisclosed sum.
For further information, please contact Jon Patrick on 0113 389 2700.
Boutique Hotel Development Opportunity, St Olave’s Tower Bridge *SOLD*
Christie + Co has sold this boutique hotel development opportunity to Lahlit Hotels of India for the development of a luxury 72 bed hotel. For further information, please contact Jon Patrick on 0113 389 2700.
Unit 14, West One
Let to Ossett Brewery for redevelopment from A1 to A4 planning use. For further information, please contact Jon Patrick on 0113 389 2700.
World of Golf, New Malsen, Surrey *SOLD*
The World of Golf centre in New Malden, one of Europe’s most popular and profitable golf centres, has been sold by leisure sector specialists Christie + Co.
The Beverley Park centre has been acquired by New Malden Golf Centre Limited from World of Golf owners Ashtour Ltd for an undisclosed sum. For further information, please contact Jon Patrick on 0113 389 2700.
Radisson Edwardian Hotel, Manchester
Christie + Co, acting on the instruction of Les Ross and Matt Dunham of Grant Thornton, administrative receivers and agents of Free Trade Hall Hotel Limited, has sold The Radisson Edwardian Hotel in Manchester to the Edwardian Group. The Edwardian Group already managed the hotel, located on the site of Manchester’s iconic Free Trade Hall, on a long-term management contract under the Radisson Edwardian flag.
Elysium Health and Fitness Club
Christie + Co has sold the Elysium Health and Fitness Club, the health club has a Luxury swimming pool, spa and beauty facilities, restaurant and bar. The health club is situated in tranquil gardens, affluent area of Albrighton on the Shropshire border.
If you wish to discuss further please contact Gavin Wright on 0121 456 1222 or Jon Patrick on 0113 389 2700.
Acting on behalf of Smash Foods Ltd, Christie + Co sold the leasehold interest of the S&M Café within the O2 in Greenwich for an undisclosed sum. The site was acquired by national operator, The Restaurant Group (TRG), which operates the Frankie & Benny’s, Garfunkel’s and Chiquito brands.
Fitness4Less - Nottingham
Acting on behalf of budget health & fitness operator Fitness4Less, Christie + Co acquired a prime 15,500 sq ft unit in the centre of Nottingham.
Seabank Hotel, Wales
Acting on behalf of Park Hill Hotels & Leisure Ltd, Christie + Co sold the freehold of the Seabank Hotel in Mid-Glamorgan, Wales, to Leisureplex Ltd, the UK’s largest coach holiday company, for an undisclosed sum.
New Northumbria Hotel, Newcastle-upon-Tyne
Acting on behalf of a private individual, Christie + Co acquired the New Northumbria Hotel near Newcastle-upon-Tyne, which was formerly owned by WG Mitchell, from Administrators Ernst & Young, for an undisclosed sum.
Acting on behalf of David Appleby, Christie + Co secured a new partner for Medication Every Day Services Ltd (operating from The Pharmacy in Portsmouth, Hampshire) which will allow the business to expand.
The Imperial Hotel
Acting on behalf of a fund managed by F&C Reit Asset Management, Christie + Co sold the freehold interest of the Imperial Hotel in Newcastle-upon-Tyne, to the 16-strong Cairn Hotel Group, the family-run hotel company, for an undisclosed sum.
Quality Hotel Glasgow
Acting on behalf of landlord Coopervale Limited, Christie + Co sold the long leasehold interest in one of Scotland’s best known hotels, the Quality Hotel Glasgow, to Principal Hayley Hotels and Conference Venues, for an undisclosed sum.
Oakley Court, Windsor
Advised by Christie + Co, the private owners of Oakley Court signed a joint venture with Principal Hayley Group, which will see the leading hotel and conference venue operator, run the renowned country house hotel on the outskirts of Windsor. For more information call Jeremy Jones or Sebastian Meredith on 0207 227 0700
Snooty Fox Ltd Sold
Acting on the instructions of Baker Tilly’s Adrian Allen and Graham Bushby, joint administrators of Snooty Inns Limited, Christie + Co has sold the company’s two pubs, the Snooty Fox in Northamptonshire and the Snooty Tavern in Cambridgeshire.
Located on Main Street, Lowick, the Snooty Fox is a 15th Century Grade II Listed property, which was originally built as a manor house. The property features a 25-cover bar, 56-cover restaurant and a series of dining/meeting rooms on the first floor, together with a separate first floor bar and two bedroom owner’s accommodation.
Christie + Co sold the Michelin-starred Simply Simpsons in Kenilworth on behalf of celebrity chef Andreas Antona, to Midland Assured Group. The property was home to the original Simpsons restaurant before the chef acquired his larger second site, which also offers accommodation, in Edgbaston.
Christie + Co where instructed to dispose of their freehold convenience store, which we successfully sold to the Mills Group. Christie + Co also acted for Somerfield in the sale of 13 convenience stores and 3 petrol filling stations in Scotland, after their acquisition of Aberness Stores.
Anglian Convenience Stores
Acting on behalf of the directors of Anglian Convenience Stores Ltd, Christie + Co was instructed to market an estate of 20 stores, spread across East Anglia. The transaction was completed by way of a company share sale.
Sale of Rusts
Acting on behalf of Rusts’ shareholders, Christie + Co has successfully negotiated the sale of the company’s entire share capital to Midcounties Co-operatives Limited.
Rusts is a well known and established family business with a 30 year trading history. The company currently operates ten convenience stores across the south of England, providing around 200 jobs. The ten convenience stores will continue to operate under the Rusts brand, retaining of all of the current staff.
Hg Capital's acquisition of Casa Reha
Christie + Co is proud to have formed part of Hg Capital’s advisory team in what was the largest and most important transaction in the German care market in 2007. Our task was to provide property due diligence including detailed benchmarking analysis of the portfolio and a review of the development programme. Another key part of our brief was the provision of detailed advice on the complex lease structures in place and their potential impact upon the cash flow of the business. Christie + Co’s input was instrumental in Hg Capital’s successful acquisition of the business, with it ultimately being addressed to the Royal Bank of Scotland plc, who provided the funding. Christie + Co are approved Panel Valuers to the Royal Bank of Scotland plc.
Christie + Co has been providing valuation advice to this specialist care operator since 2005. Major instructions have included a portfolio-wide valuation in mid 2007 in connection with a re-finance of the business. Further work is being undertaken in connection with Legal & General Ventures’ review of the business. The portfolio comprises over 200 assets, split between independent hospitals, elderly care and specialist facilities.
Highwood Residential Ltd
Christie + Co was instructed to dispose of two development sites on behalf of Highwood Residential Ltd, a building contractor and developer specialising in residential and healthcare developments. The investment interest was sold to a private investor, subject to new leases with Southern Cross PLC, for a price representing a net initial yield of approximately 5.7%. The investor will forward-fund the development of the two care homes, comprising 150 purpose-built beds, in Andover and Gosport.
Floral Hall Gardens, Southport
Acting on behalf of Neptune Developments, Christie + Co has now sold the hotel development element within this mixed scheme to Even Group for an undisclosed sum.
Motot Hospitality, Wetherby
Site disposal to Starboard Hotels for development of 125 Days Inn hotel.
The Thames Club, Surrey
Acting on behalf of Sheffield United, the Aim-listed company behind the Coca-Cola Football League Championship side, Christie + Co has now sold The Thames Club, a health and leisure club in Surrey, to a company funded by Downing Protected VCTs for an undisclosed sum.