Best Place Inns looks at expansion
September 24, 2013
Popular pub and hostel operator Best Place Inns has appointed DCL – the leisure specialists – to market two of its pubs The Crown in Clapham and The Great Eastern in Docklands.
Ben Stackhouse, Managing Director of Best Place Inns, said: These are really exciting times for us. Off the back of a solid year, we are now looking to take the company to the next level and, as such, we are currently on the lookout for a large Zone 1 property. This will become our flagship and – what we hope will be – the first of many larger format operations.
In order to make this step forward we will need to generate additional capital. As well as exploring options with new investors and private equity firms we are also testing the market with these two properties to see whether the funds – if required – can be generated from within our existing portfolio.
We are also continuing with our extensive refurbishment programme, which is transforming a number of our sites. This includes installing a pop up kitchen at The Crown on Lavender Hill, which will be operated by popular street food operator BBQ Whisky Beer winner of Ribstock 2013.
We hope to make further announcements about expansion in the near future.
Chris Bickle, Associate Director at Davis Coffer Lyons commented: Both venues are attractive period public houses so will appeal to pub operators in their own right as well as those looking for rooms in the expanding backpacker market.