Glendola Leisure has strengthened its presence in the capital with the acquisition of the two-strong Handmade Pubs business for an undisclosed sum and told MCA it was still acquisitive “for the right pubs in the right place”.
The company will take over the Fox on Paul Street in Shoreditch and the Lansdowne in Primrose Hill following the deal.
Alex Salussolia, managing director at Glendola Leisure, told MCA: “Trading has been strong at plus 6% like for likes this year, although we, as all, have seen a softening in like for likes in the last month.
“Great London pubs endure and fit perfectly into our aspirations to run long term generational businesses.”
Next month the company will open its second Alston Bar & Beef site in Manchester. The group is investing £2m in the 160-cover site, which will include a speakeasy.
Salussolia said that under the group’s hotel division, Carlton Hotels, its 97 bedroom design hotel for Market Street in Edinburgh “continues to rise, construction wise, out of the ground and we anticipate a late 2018 opening”.
Handmade Pubs was founded in 2010 and owned by Bob Taylor.
Savills acted on the Handmade deal.
Chris Bickle, licensed leisure director at Savills, said: “We are very pleased with the outcome of this disposal for our client, Handmade Pubs. Independently owned pub groups that operate solid businesses such as these are highly sought after, especially when offering strong levels of turnover, growth potential and good unexpired lease terms.”