Capital Pub Company acquires two London ventures

4th February 2010, 8:45am

The Capital Pub Company has expanded its portfolio with two more London pubs.

The Company has completed the purchase of 40% of the issued share capital of Ensco 600 Ltd, owner of the Havelock Tavern, a freehold pub in Brook Green, for £280,000.

There is an agreement in place to purchase the remaining 60%, using the same valuation, from January 2011 onwards. The Company will operate the Havelock Tavern under a management contract.

In addition, the company has completed the purchase of a 20 year lease on The Uplands in East Dulwich, with a five year option to acquire the freehold for £1.95m. The pub will shortly close for a £250,000 refurbishment, re-opening after Easter.

Clive Watson, chief executive of Capital Pub Company PLC, said: "I am pleased to report that the Company is trading well and has improved its performance over last year. The Company saw clear benefits from its fully invested estate and the London market remains buoyant.

"We are committed to growing our portfolio of quality, predominantly freehold London pubs and both The Uplands and The Havelock are excellent additions to our estate. Whilst we remain cautious regarding the general economic situation we are encouraged by current trading and look forward to the 2010 World Cup."

Related Articles:

• 20 Sep 2010 - Capital Pub Company reports healthy turnover growth

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