City Pub EIS Fund, now trading as Mosaic Pub & Dining, has acquired its 10th pub.

The Clive Watson-chaired group has completed the freehold acquisition of the Oak Tree pub in Sevenoaks for £1.3m from South Beach Investments.

The property, a traditional free of tie pub previously let to Faucet Inns, is the first acquisition under the Liberty (City) Pub Company fund – one of three new funds set up by the group earlier this year.

Mosaic also trades in Cheltenham, Twickenham, Middlesex, Birmingham, as well as London.

Connie Start, associate director at Davis Coffer Lyons, which handled the deal, said: “The Oak Tree is a real gem and ticks every box for many fledgling pub companies: great position, location, condition, and there are several other corporate operators in the immediate vicinity. Mosaic is a great brand and we are confident the team will make their latest asset a great success.”

Peter McDonald, chief operating officer, Mosaic Pub and Dining, said: “We are very excited by our tenth acquisition and looking forward to turning the Oak Tree into a high quality pub with a strong emphasis on food.”