City Pub Group, in its latest move to expand, has acquired esteemed locations in London’s Soho and Oxford with an investment surpassing £4 million. This recent purchase has expanded the company’s reach, elevating its total number of sites in the south of England and Wales to 54.

In a significant transaction in the Soho district of London, City Pub Group took ownership of the freehold for Simmons Bateman Street, a popular cocktail bar. The acquisition, costing around £3.875 million, was made from Consolidated St Giles LLP. The bar, currently on a 16-year leasehold, rakes in an annual rent of £260,000.

Moving on to Oxford, the group proudly acquired the Plough – one of the city’s time-honoured pubs – for a sum close to £330,000. The Plough, procured on a leasehold agreement, can accommodate 230 guests and boasted a commendable revenue of £1.5 million the previous year. City Pub Group has voiced plans for a “modest refurbishment” of the establishment, ensuring the pub’s historic aspects remain intact.

With these new acquisitions in hand, City Pub Group intends to amplify its organic sales growth and persistently scout for similar pub and bar acquisitions within its existing operational territories.

City Pub Group’s Executive Chairman, Clive Watson, expressed enthusiasm regarding the new purchases. “Acquiring these two iconic pubs, situated near our existing establishments, is a cause for celebration,” he remarked. Highlighting Soho’s thriving environment with tourists, theatre aficionados, and local residents, Watson is optimistic about its long-term investment potential.

Furthermore, Watson commented on the acquisition in Oxford, “The Plough stands proudly in Oxford’s centre, demonstrated strong performance last year, and we are poised to redefine it to unlock even greater potential.”