Peckham Rye Takes Capital Estates to 34
May 4, 2011
South east London pub operators the Monumental Pub Company has sold its leasehold interest in The Rye to Capital Pub Company plc through leisure specialists Davis Coffer Lyons.
This is Capitals second purchase in south east London in the last few months after securing the freehold on The Mansion near Gipsy Hill for £1.55m. Their estate currently stands at 34. In mid April the company reported a 24% increase in revenue for the year to 26th March 2011, driven by organic growth in its existing estate and new openings.
Chris Bickle, Davis Coffer Lyons said: We have seen an increase in the levels of transactions in Peckham in recent years and to a degree, neighbouring East & West Dulwich. SE15 in particular is an area on the up. A varied influx of young professionals are helping to drive a strong neighbourhood pub market which local operators are embracing by offering customers great quality service and often something a little unique.
Clive Watson, CEO of Capital Pub Company PLC said: We are delighted with the acquisition of the Rye, a great addition to the Capital estate. This is a quality pub and we look forward to benefiting from the large beer garden and the pubs proximity to Peckham Rye. We continue to see the South East of London as an area for growth.
Co-owners Scott Blenkhorn and Diane Wilson ran the pub for over seven years during which time it built a reputation as one of the areas most popular venues. They also operate The Goldsmith in Borough and The Bridge House Tavern in Penge West.
The Rye enjoyed gross weekly sales in the region of £15,000 per week and offered a popular food menu which incorporated authentic Thai food from the kitchen. The main bar provided around 30 covers with over 130 seats available in the large beer garden to the rear and patio to the front. Private accommodation includes an attractive four bedroom owners flat.