14/11/2017
Aprirose sell Tower Bridge Travelodge
As reported by The Caterer, CCLA Investment Management has acquired the 190-bedroom Travelodge hotel at Tower Bridge on behalf of Local Authorities Mutual Investment Trust. The five-storey hotel was sold by real estate investment company Aprirose for £47.1m, representing a net initial yield of 3.61%.
Yangtze acquired by Chopstix
Backed by Metro Bank, Noodle bar Chopstix has completed their first acquisition, purchasing the nine strong chain Yangtze for an undisclosed figure. As reported by Eat Out Magazine, this acquisition will add to an existing portfolio of 75 restaurants across the UK, which has doubled in the past 18 months.
Dirty Martini to open tenth site in Leeds
Cocktail bar group Dirty Martini is set to open its tenth site in Leeds this week, according to Propel Info. This new opening also marks the second regional site for the CG Restaurants & Bars owned group. The new Leeds unit is located in King Street and will open on Saturday 18th November, offering a White Rose Martini exclusively to Leeds. A new site is scheduled to open in Manchester later this month and an additional opening in Birmingham is planned for February 2018.
Northern Powerhouse Developments acquire Yorkshire hotels
Northern Powerhouse Developments has purchased the three star, 41-bedroomed Imperial Crown Hotel in Halifax as well as the 17th century Old Golf House Hotel in Huddersfield. Boutique Hotelier reports that the properties were sold for an undisclosed sum and previously formed part of the Corus estate. The Imperial Crown Hotel will be transformed into a boutique style operation. The transactions are expected to complete by February 2018 and will be managed by Northern Powerhouse Developments' sister company Giant Hospitality.
24th site for Castle Rock Brewery
The Nottingham-based brewer and pub company, Castle Rock Brewery, has opened its 24th site inside Nottingham's Theatre Royal & Royal Concert Hall. The pub restaurant is called Yarn reports Propel Info, and references the stories from the theatre. This opening forms part of a wider £3.3m development of the venue.
And Finally...
El Mexicana, the Mexican burrito specialist, has opened the first two sites for their new casual dining concept Cocina. According to Paul Charity at Propel Info, the first two locations are Timberhill Terrace in Norwich and Princess Way, Swansea. Another Norwich site will open in Tombland soon. Founded in 2011, El Mexicana currently operates 21 stores across the UK, with new sites planned for Milton Keynes and Telford.