Six London pubs go on the market as Convivial sells estate

By Emma Eversham

- Last updated on GMT

Related tags: Brewery, Public house, London

The Mitre pub in Greenwich, one of six that has gone on the market as part of Convivial London Pubs' sale
The Mitre pub in Greenwich, one of six that has gone on the market as part of Convivial London Pubs' sale
Six London pubs, including The Mitre in Greenwich and The Lamb Brewery in Chiswick, have been placed on the market as owner Convivial London Pubs PLC looks to sell of its estate. 

The pubs, five of them freehold and two with operating micro-breweries, are being sold on a share or individual asset basis with Convivial seeking £16.9m for the entire business. 

Pubs for sale are: 

  • The Mitre Hotel, Greenwich – freehold – offers in excess of £6m
  • The Lamb Brewery, Chiswick – freehold – offers in excess of £2.8m
  • The Clifton, St John’s Wood – freehold – offers in excess of £2.9m
  • The Botanist Brewery, Richmond – freehold – offers in excess of £2.5m
  • The Crown & Anchor, Chiswick – freehold – offers in excess of £2m
  • The Hansom Cab, Kensington – long-leasehold – offers in excess of £700k

Christie & Co, the agent in charge of their sale said all pubs were 'well established' and had been subject to major investment recently.

"Each has its own charm and personality while, with the exception of The Clifton, all the pubs are Grade II Listed," a spokesperson said. 

Neil Morgan, director and head of pubs at Christie & Co, said: “The sale of Convivial London Pubs PLC represents a unique investment opportunity for a group or individual asset sale. All of the assets have significant potential for revenue maximisation, capitalising on their London positioning and the return of consumer confidence — where London, again, is leading the way. 

“The pubs would ideally suit central London operators who can slot these non-branded assets into existing portfolios. Alternatively, regional pub companies seeking to take advantage of an ebullient London pub market, strong tourist pound and excellent year-round trading conditions, will potentially view these as trophy assets. 

“Add to this the two micro-breweries — which as well as offering regional brewers a foothold in the capital, have the bonus of significant off-sales potential — and we have a rare opportunity indeed.”

Enterprise Investment Scheme-backed Convivial London Pubs PLC was formed in 2004 of eight pubs (seven freehold and one leasehold). It sold off the Tea Clipper in Greenwich in April last year, but continues to operate the pub for its new owners. It also continues to operate its leasehold pub The Pakenham Arms in Mount Pleasant. 

Related topics: Business, Pubs & Bars, Venues

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