Multiple Pub Operator Tally Ho Holdings Nabs Three Pigeons
May 25, 2011
Leisure agents Davis Coffer Lyons has recently completed the leasehold assignment of the Three Pigeons public house in Gerrards Cross to multiple operator Tally Ho Holdings Ltd.
The premises are held on the remainder of a 30 year lease expiring 2021 at a passing rent of £48,000 per annum exclusive. A premium of £50,000 was sought.
Tally Ho Holdings Ltd is owned by The Hon. Mr. and Mrs. Henry Cripps. Mrs. Cripps, the daughter of broadcaster Sir Terry Wogan, and her husband already operate two successful dining pubs in Berkshire: The White Oak in Cookham and The Green Oak in Oakley Green near Windsor. Both existing sites are with Greene King with the new addition from Enterprise Inns.
The Three Pigeons, located between Gerrards Cross and Chalfont St.Peter will reopen in July having been closed since Maidment Judd, Administrator of The Three Pigeons Ltd was appointed at the end of 2010. Tally Ho Holdings is now in the process of refurbishing the premises to bring it in-line with current legislation and to provide a venue similar to our two existing Oaks.
Chris Bickle of Davis Coffer Lyons, who acted for the administrators, commented: Due to the overall desirability of this public house and subsequent interest in it, we were able to achieve a premium which is unusual for a closed premises. The Three Pigeons presents a great opportunity for an operator of Henrys calibre and experience.
The pub occupies a prominent roadside location and sits on a plot offering apple car parking and garden space. The contemporarily designed interior previously provided a fully fitted bar and restaurant as well as a three-bedroom residence.
Henry Cripps, Tally Ho Holdings Ltd, said: We are very excited about our new purchase, having always intended to grow our pub company and hope that we can provide a comfortable, warm and friendly venue for all of our new neighbours to enjoy.”