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Convivial Pubs up for sale

31 | 07 | 13

London-based pub chain Convivial Pubs has been made available for sale. 

The company, which is comprised of six venues across the capital, has been placed on the market with a minimum value of £16.9 million. Interested parties can bid for the business on either a share or individual asset basis.

Property sale specialists Christie + Co will be handling the process. 

The company's director and head of pubs Neil Morgan commented: "This represents a unique investment opportunity. All of the assets have significant potential for revenue maximisation, capitalising on their London positioning and the return of consumer confidence, where London is leading the way."

He said the deal would ideally suit companies that already operate in the capital and can incorporate Convivial's non-branded pubs into their existing portfolios, as well as regional pub firms looking to take advantage of the thriving London market.

Five of the venues on offer are Grade II listed buildings, while two contain micro breweries with off-sales potential. 

This is not the only interesting development taking place in London's hospitality industry, as Wagamama has announced it will open its 100th venue in the city. 

Catering equipment will be installed at the Old Fire Station in Hammersmith, which is to be the first London-based Wagamama site to incorporate the company's bar offering, Caterer and Hotelkeeper reports.

The firm's operations director Glyn House told the news provider: "This is an important milestone for us and we are thrilled to open our 100th unit in London where we opened our first restaurant in 1992 in Bloomsbury."

Wagamama's 100th venue will be overseen by the company's new chief executive, David Campbell, who is to take charge of the company from September onwards. He is leaving his previous position as managing director of Allsport, which is the firm behind the advertising and merchandising of Formula One motor racing.

Of Wagamama's 100 venues, 95 are based in the UK and the business also operates a dining experience at music festivals.ADNFCR-16001031-ID-801619081-ADNFCR

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