A bar and nightclub company located in the Midlands is up for sale after undergoing serious problems during the festive season.
While the Christmas and New Year period is usually profitable for the entertainment sector, Mood Bars has had to call in the administrators after suffering an “unsustainable drop in revenues” over the past few months.
TJ's Bar and Bistro, Koko's nightclub and the Shakespeare Inn p... Continue Reading
There has been a rise in the number of restaurants for sale in the wake of the recession, recent reports have suggested.
In Edinburgh, for example, critically-acclaimed Seadogs is on the market, along with the established seafood restaurant Creelers. Both have been in operation for quite a while, suggesting that rough trading is hitting business across th... Continue Reading
A Grade II-listed building has been put up for sale by the City of Lincoln Council, which can no longer afford the costs associated with the building.
The Lawn complex was originally built as a mental hospital, but of late it has been run as a venue for concerts and other large events in the area.
However, the council has overseen several other uses for the property, including a children's play area, a museum and ga... Continue Reading
Several hotels and a conference venue are expected to be put up for sale in the coming months as their owner, the De Vere Group, is looking to generate funds for its expansion.
Reports in the Times stated that the Grand Harbour hotel in Southampton, the Royal Bath in Bournemouth, the Village Daresbury Park in Warrington, the Barony Castle near Edinburgh and the University Arms in Cambridge will soon be on the market.
Sal... Continue Reading
A local village pub in the Sussex village of Westfield has seen its guide price slashed considerably since it was first launched onto the market in Autumn of 2011.
The Old Courthouse, located in Main Road, was initially given a guide of £325,000 in September. However, this was later dropped to £299,950, and again to £289,000 as the owners struggled to move the business on.
According to reports from the Hastings Observ... Continue Reading
A historic - but empty - hotel in the Cumbrian town of Cockermouth has been put up for sale as a prime business development opportunity.
The Grade II-listed Globe Hotel was inundated by the 2009 floods in the town but, since then, has been emptied, dried and mothballed in preparation for renovation works to be carried out. The agents managing the sale, Edwin Thompson, have put a price tag of £595,000 on the property.
J... Continue Reading
The former Salvation Army citadel in Barton has been put up for sale, after the Sally Anns said the running costs had become too high.
The Grade II-listed building has been put up for sale with a price tag of £199,000, and presents an intriguing canvas for an innovative developer who is willing to put in a significant amount of restorative work.
The building, which was built more than 150 years ago, has belonged to th... Continue Reading
Ramada Hotels has put the freeholds of four of its prime hotels on the market, with anticipation high that there will be a significant amount of interest.
The four hotels that have been put up for sale are the Birmingham Solihull, Farnham, Guilford/Leatherhead and Hemel Hempstead branches. According to BigHospitality.co.uk, the management of the four hotels was taken over in May last year by BDL Management, which also took on five f... Continue Reading
A number of hotel companies and hospitality entrepreneurs are thought to be among the bidders who have expressed interest in a prime town centre building in Perth in Scotland.
The former Pullars building on Mill Street is being sold by Perth and Kinross Council, who have given any interested bidders until Wednesday, January 18 to come forward with any realistic offers. A council spokesman said they had received seven notes of intere... Continue Reading
Mergers and acquisition activity in pubs, bars and restaurants is likely to surge in 2012, according to new research from the business advisory consultancy, BDO.
Head of restaurants and bars at BDO, David Campbell, said that they expect to see many private equity companies looking to cash in on consumers continuing to eat out.
“Eating out has been relatively unaffected in the consumer downturn and we see casual dining... Continue Reading
A Kent hotel that once had connections with the infamous Kray brothers at the height of their notoriety has been put on the market.
The Russell Hotel in Penenden Heath, Maidstone, has been put on the market by its current owners with a price tag of £2.75 million. The elegant Victorian building was used as The Sacred Heart convent and school until the early 1970s, when it was sold, deconsecrated and converted into a hotel.
A popular micro-brewery in Shropshire is being put up for sale, offering potential new owners the chance to buy into a successful business with lucrative prospects for expansion and diversification.
The Shropshire Star has reported that the leasehold of the Ironbridge brewery has been put on the market for £299,995, and with that price is included the Old Fighting Cocks pub in Oakengates. The offering is located within the historic ... Continue Reading
Two hotels formerly owned by Morgans Hotel Group Co (MHG) have been sold by Jones Lang LaSalle Hotels.
The Sanderson and St Martins Lane, both of which are located in central London, have been acquired by the Middle Eastern investor Capital Hill Hotels Limited for £192 million.
Capital Hill Hotels Limited – which also owns numerous other hotels around the world – will continue to use MHG to operate each of the pri... Continue Reading
The new director of the hotel agency team of commercial property firm, Colliers International, has said that he believes there will be a significant rise in the number of people looking to buy hotels over the next twelve months.
Julian Troup told industry site, BigHospitality, that there will be a marked turn-around next year from the falling number of transactions that 2011 has seen. He explained that many of the quality buyers hav... Continue Reading
The Baby Grand Hotel Company - the business behind the 42 The Calls Hotel in Leeds - has called in administrators.
The company has appointed Rob Croxen, David Crawshaw and Blair Nimmo from KPMG's restructuring practice to find a buyer for the four-star boutique hotel. It will continue to trade as normal while a buyer is being sought.
Baby Grand is a subsidiary of the London-based Scotsman Hotel Group Limited (SHGL... Continue Reading
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