Kornicis Group, operator of the Henry J Beans brand, has taken over the running of two former Balls Brothers sites in central London, which it plans to convert to its Jamie’s Bar brand.
The sites in Ludgate Hill and St Mary-At-Hill were not included in the deal earlier this year, which saw Novus Leisure acquire the bulk of the Balls Brothers and Lewis & Clarke businesses out of administration, for a fee that could eventually exceed £7.8m.
The company is currently running the two sites with the Jamie’s banner on the front of the sites, but will look to fully convert the sites to its full bar format by the end of July.
Kornicis, which is the investment vehicle of Nick Tamblyn, the former chief executive of Chorion, currently operates five Jamie’s Bars across central London, including sites at Bishopsgate and Groveland Court.
The company’s previous deal was for the Lowlander Grand Café on Greechurch Lane in March last year, but Tamblyn told M&C Report that the group was already looking at making further additions to its estate over the next six months.
He said: “There is definitely more movement in the market place and we are already looking at three or four further opportunities to increase our portfolio.”
The group also operates 19 Henry J Beans – five that our company-owned in the UK and another 14 that are run under franchise internationally, with its most recent opening in Beirut.
Its estate also includes two Smollensky’s restaurant and bars in Canary Wharf and the Strand, plus eight unbranded bars across the capital.
The group purchased the majority of Jamie’s Bars after The Food & Drink Group collapsed into administration in 2008. It also bought the Smollensky’s restaurants in the same year.
Property advisor Cedar Dean Gilmarc is acting on behalf of Kornicis on the latest deal.
