Pub portfolio sale for Faucet Inn
February 7, 2017
In a deal brokered by Coffer Corporate Leisure, Stonegate is acquiring three pubs from Faucet Inn, comprising one freehold and two leasehold sites. The pubs being acquired are located in prime London locations and include Comptons in Soho. The acquisition is being funded out of cashflow. Stonegate has a proven track record of success in identifying, unlocking value and ultimately delivering higher returns from the pub assets which it has acquired and has built a reputation for consistently achieving industry-leading returns on its investments. Examples include the acquisitions of Bramwell in 2013 and Tattershall Castle Group ("TCG") in 2015, both of which continue to perform strongly. Most recently, Stonegate acquired 30 bars from iNTERTAIN in December 2016. The Group has also acquired 10 sites from JD Wetherspoon over recent months Following the acquisition, Stonegate will comprise 693 operating venues, further consolidating the Groups position as a leading high street, managed pub operator in the UK. Mark Sheehan, Managing Director, Coffer Corporate Leisure, said: "This a rare deal in that it is a very high quality portfolio and not common for pub groups in Central London to transact." Coffer Corporate Leisure advised Faucet Inn on the transaction.