09/08/2017
Turnover increase of 22% for Innis & Gunn
According to The Morning Advertiser, Innis & Gunn, the independent Scottish craft brewer, has reported 13 years of consecutive growth, with 2016 again reporting a rise in turnover, profits and sales. The Edinburgh-based company publically stated a turnover goal of £25m, which it is on track to meet by 2018.
200th worldwide site as Joe & The Juice opens in Mayfair
Juice and smoothie chain, Joe & The Juice reaches it 200th worldwide venue, as a new store has opened in Mayfair. Paul Charity at Propel Info reports that the Maddox Street operation takes the Denmark-based company to 23 stores in and around London, and increases their UK portfolio to 31 sites.
New sites for The Alchemist
Pub and Bar Magazine reports that The Alchemist has acquired three new sites: Nottingham, Cardiff and Bristol. The Nottingham venue is a former Hard Rock Café located on King Street, which will open at the end of 2017. An investment on £1.6 million will increase the property's square footage to 6,500, spread over two floors. The Cardiff site, which occupies a former NatWest Bank on St Mary Street, will open in March next year and marks The Alchemist's first site in Wales. These acquisitions follow the bar's 10th opening in Chester in July.
UK expansion for Muffin Break
Muffin Break is an Australian brand serving a selection of homemade muffins, other hot food as well as hot drinks and other beverages. Eat Out Magazine reports that the company has opened two new UK sites in Basildon and Chester, with intentions to open an additional 15 sites in the UK next year.
Expansion for Dirty Martini
Dirty Martini, run by leisure operator CG Restaurants & Bars, is planning its regional expansion with acquisitions in Leeds and Birmingham. Having recently announced a Manchester site, the two new sites will take the portfolio total to 11 venues. Pub and Bar Magazine reports that whilst the Manchester site has a planned investment of £1.5 million to convert 6,700 sq ft across three floors from office and retail space to the leisure operation, the Leeds and Birmingham locations are still "subject to conditions".
And Finally...
Hotels located in British seaside towns are attracting increased investment, according to Hotel Owner. Figures from Property Frontiers confirm the weakened pound, the staycation trend and increasing inbound tourism have encouraged financiers to invest in UK property. According to VisitBritain stats, the UK's seaside towns are proving popular. In 2016 Scarborough saw a 4.56% increase in tourism as well as a 15.52% rise in visitor expenditure.