Fuller's to add Five New Pubs to its Growing Estate
Fuller, Smith & Turner PLC announces that on November 1st 2011 it is to acquire five new pubs, increasing its reach in Central London and adding 58 bedrooms to the business. Three of the new additions are leasehold and two are freehold properties.
The Wellington, Waterloo, The Pavilion End and Bluu in the City of London, The Hand & Flower, Kensington Olympia and The Red Lion Hotel, Wendover have been purchased from Marston's in a deal worth £16 million.
Simon Emeny, Fuller's Group Managing Director said: "These acquisitions are high turnover managed houses with a similar trading style to our own where we feel Fuller's can add value. They emphasise our continued focus on London and our strategy to increase the number of bedrooms in our estate which is an area of growth for the Company."
The new pubs bring the number of bedrooms in the Fuller's estate to 612, following the acquisition in The White Swan, Stratford-upon-Avon and the refurbishment and addition of bedrooms at The Drayton Court in Ealing earlier this year.
The Wellington, Waterloo is a well-known commuters' pub opposite Waterloo station, with 26 bedrooms situated above. With its great transport links and superb location for tourist attractions, it is a high volume operation.
The Pavilion End, Watling Street is situated in the heart of the City of London, close to Cannon Street station and boasts one of the best beer gardens in the city. Nearby Bluu is located between Bank and Moorgate, in a Grade II listed building.
The Hand & Flower is opposite the Olympia Exhibition Halls, perfectly situated to take advantage of the many events there. It has 9 bedrooms and a large function room.
The Red Lion Hotel, Wendover is a listed 16th Century coaching inn with 26 bedrooms, a large restaurant area and a beautiful garden terrace. It is rumoured that Oliver Cromwell once stayed overnight at the inn and addressed his troops from one of the upstairs windows.
The five acquisitions take the total number of pubs in the Fuller's estate to 365.