Hertfordshire brewer and operator McMullen’s has acquired three further pubs, including two central London-based freehold sites from Punch Taverns, for an undisclosed sum, and said it continued to look for more “well located pubs in London and the Home Counties”.
The c135-strong group has acquired the Old Crown in New Oxford St and the Kings Arms in Great Titchfield St from Punch, plus the Old Crown in Royston, which is let out to Bramwell Pub Company on a commercial lease.
In May, the group acquired the Quays in Farnborough.
Peter Furness-Smith, managing director, said: “We are delighted to have purchased the freehold interest in four excellent pubs so far this year and particularly pleased with these two well located pubs in Central London. Although finding good sites remains a challenge we are continuing to look for more well located pubs in London and the Home Counties.
“The Quays is a managed house and will be refurbished shortly as one of our destination pubs.
“The two London pubs are let out to well-respected operators with tied leases so we look forward to working with them both to fulfil our joint obligations under their existing agreements.”
Last month, the group said it had exchanged contracts on three of the five sites it placed on the market earlier this year and was considering repositioning a couple more of its existing pubs to its value Chicken & Grill format.
Furness-Smith told M&C Report that the group was “constantly looking to acquire more suitable sites” which have potential over the long term and a strong balance sheet.
He said: “We are in a good position to move quickly and confidentially when the right opportunities present themselves.”
