Grosvenor Pubs, the Downing-backed vehicle led by former Busaba Eathai chief executive Jason Myers, has secured its first site.
The group, which was founded by Myers and sector investor David Ramsey, has taken on the freehold of The Cricketers Inn in Pirbright, Surrey.
MCA revealed the creation of the group in January. It is backed by c£5m funding from Downing EIS Pub Fund 3 and aims to build an estate of high-quality country pubs with rooms.
Whilst the group is flexible on geography, the main focus of expansion will be on affluent areas within a two-hour drive of London.
AG&G director James Grimes said: “We had good interest in this one due to its attractive village location. Bidding was competitive and I am pleased to have been involved with the first Grosvenor Pubs venture.”