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Administrators instruct sale of seafood pub chain’s sites months after £7m capital investment

Seafood Pub Company Holdings Limited

Ten pubs formerly operated by Seafood Pub Company Holdings Limited have been brought to market upon instruction by administrators.

Ryan Grant and Kerry Bailey of BDO have asked business property adviser Christie & Co to find a new buyer for the sites, which prior to the pandemic had received more than £7m in capital investment.

The portfolio includes managed inns and pubs located across affluent areas of England’s North West and Yorkshire that are hugely popular with both tourists and locals.

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Business interruption caused by Covid-19 forced the chain to close its doors in the summer and enter administration.

Prior to the business’ closure, Seafood Pub Company grew from its founding in 2010 to become a highly successful group of traditional destination country inns and pubs.

Predominantly food-led, the sites are renowned for their quality, having previously been operated as gastropubs with a seafood focus.

However, they also exhibit diversified revenue streams through strong wet sales and a high-margin accommodation offering of 62 luxury letting rooms across seven of the properties.

Noel Moffitt, senior director of corporate pubs and restaurants at Christie & Co, said: “This portfolio represents a unique opportunity for either an experienced operator to increase the size of its estate through the acquisition of well-established outlets, or an opportunity for a new entrant to build up a high-quality estate of critical mass in a single transaction.

“Despite being currently closed, these sites can be reopened immediately post completion, with significant potential for growth across food, wet and accommodation revenues.”

Mr Moffitt said offers are invited for the portfolio either as a whole, as distinct sub-groups or for individual assets.

Tags : administrationPubsRestaurantsSeafood Pub Company Holdings Limited
Andrew Seymour

The author Andrew Seymour

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