Thu, 04 Aug 2011 | BUSINESS SALE
London-based pub Company Faucet Inn has made another acquisition in the form of Gordon Ramsay’s pub The Warrington.
The owner of Faucet Inn, Steve Cox, has purchased the Maida Vale-based pub from Gordon Ramsay and Chris Hutcheson. The price paid has not yet been disclosed.
The Warrington - which comprises a Grade II-listed saloon and an art nouveau interior - was acquired in 2006 for around £5.2 million and was up for sale this time around with a price tag of around £5.5 million. Ramsay is rumoured to have spent £80,000 on refurbishments at the pub in a bid to use it as a launch pad for a chain of gastro pubs.
A Gordon Ramsay spokesperson told the Morning Advertiser, “We can confirm that the sale of The Warrington has been agreed and contracts have been exchanged with completion in August."
"The operation is not part of Gordon Ramsay Holdings but is jointly owned by Gordon Ramsay and Chris Hutcheson, both of whom have agreed to the sale," added the spokesperson.
Faucet Inn's acquisition of The Warrington takes their pub portfolio to 25, following the acquisition of six pubs last year from Mitchells & Butlers.
This well-established business is a HETAS approved retailer and installer specialising in a broad range of stoves, fires, and accessories, backed by strong customer service and a robust management team.
This is a unique chance to acquire a well-established business with deep local ties and a solid asset base.
A unique opportunity to acquire a well-established and thriving business located in Scotland.
LEASEHOLD
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