Wed, 25 Sep 2024 | COMMERCIAL PROPERTY
Punch Pubs & Co, a Burton on Trent-headquartered pub group, has acquired a portfolio of 14 venues across the UK. The acquisition further bolsters Punch’s portfolio of around 1,300 sites and takes its total acquisitions over the past 12 months to more than 50 pubs.
The group has acquired the Milton 1 & 2 portfolio from real estate investment firm Aprirose. The venues, which are currently operated by Blackrose Pubs, form a separate and additional deal to Punch’s acquisition of the Milton 3 portfolio, comprising 24 pubs, which completed earlier this year.
The pubs are: The Anchor, Bexley; Shield & Dagger, Bristol; The Auction House, Coventry; The Lochside, Newcastle upon Tyne; Vesper Gate, Leeds; The Claro Beagle, Harrogate; The North Camp, Farnborough; The Village Inn, Swindon; The Vine, Uxbridge; The Wheatsheaf, Camberley; The Fox, Cambridge; The Woodlands, St. Helens; Game Cock Inn, Blackburn; The Royal Oak, Bolton.
The venues were initially acquired by Aprirose, alongside its investment partners, five years ago, with the sale reflecting the company’s strategic plan to exit its operational pub platform.
Commenting on the acquisition, Punch Pubs & Co Group Property Director Stephen Allen said: "This acquisition reflects our continued dedication to expanding and enhancing our portfolio.”
"We look forward to investing in these pubs and supporting them with our industry-leading resources, ensuring their long-term success. Key to this will be Queensway Advisory, which is providing management services as the pubs join the Punch business.”
Aprirose Chief Executive Manish Gudka added: "This sale aligns with our strategic goal of exiting our operational pub platform and reallocating capital towards new opportunities we are actively pursuing across several sectors with a range of investor partnerships.”
"We appreciate the hard work of Blackrose Pubs in managing these assets, and we are confident that the pubs will continue to thrive under Punch’s ownership."
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