Young’s has acquired a former Pubs of Distinction site, The Constitution in Camden.
The pub, which has been in operation for 150 years, has two large upper floors, a cellar bar - which hosts a series of gigs, shows and club nights – and a beer garden that overlooks the Regent’s Canal.
Speaking to MCA in November last year, Young’s CEO Patrick Dardis said the pubco planned to pursue further acquisitions in 2020, with a budget of £44m for investments.
The transaction included the simultaneous acquisition of the leasehold interest from Pubs of Distinction and the freehold from an investor.
“We are delighted to acquire this property, which has canal frontage, large external trading area and is located in the heart of an area which continues to see significant urban regeneration,” said Brendan Brammer, acquisition manager of Young’s. “We intend to undertake a comprehensive refurbishment of the site ready for summer trading.”
Ed Sandall of Fleurets brokered the deal.
Precis
Young’s acquires Camden site
Young’s has acquired a former Pubs of Distinction site, The Constitution in Camden. The pub, which has been in operation for 150 years, has two large upper floors, a cellar bar - which hosts a series of gigs, shows and club nights – and a beer garden that overlooks the Regent’s Canal. The transaction included the simultaneous acquisition of the leasehold interest from Pubs of Distinction and the freehold from an investor. Ed Sandall of Fleurets brokered the deal.
