Gordon Ramsay and Chris Hutcheson have sold their Maida Vale pub The Warrington to pub and hotel group Faucet Inn for a sum in excess of £5m.
The Grade-II listed pub, which was acquired for around £5.2m in 2006 and marketed by Ramsay in 2009, was equally owned by Ramsay and former Gordon Ramsay Holdings (GRH) director Hutcheson outside of the restaurant and pub group.
Its addition to Faucet Inn brings the family-run group headed by Steve Cox up to 22 sites across London and the South-East. It recently acquired the freehold of one of its pubs – Catcher in the Rye on Regents Park Road – for £1.1m. Last year it acquired a package of six pubs from Mitchells & Butlers.
A spokeswoman for GRH said: "We can confirm that the sale of the Warrington has been agreed and contracts have been exchanged with completion in August. The operation is not part of GRH but is jointly owned by Gordon Ramsay and Chris Hutcheson, both of whom have agreed to the sale."
The Warrington’s sale leaves GRH with just one pub, The Narrow near Canary Wharf, following the earlier sale of The Devonshire in Chiswick in June to Nick Gibson, the man behind Islington’s Drapers Arms.
The Narrow continues to trade well, with profits rising 37 per cent for the year to August 2010.
Restaurant Property and Davis Coffer Lyons advised GRH on the sale of The Warrington, while AG &G acted for Faucet Inn.