Sports Bar & Grill Completes on First Pub for New “Pubs With Rooms” Concept
April 2, 2012
London-based sports bar operator Sports Bar & Grill has completed its acquisition of The Mortimer Arms pub on Tottenham Court Road through Davis Coffer Lyons Pubs team.
Sports Bar & Grill, owned by David Evans, plans to rename the Fitzrovia pub Mortimer Belle Public House and Hotel, under a new format and part of plans to diversify into the boutique pubs with rooms market. The pub will remain trading as The Mortimer Arms and will be relaunched in 2013.
DCL advised the vendor, Ashley Group, on the deal which included a 24-year Spirit tied lease for the pub premises and includes five-bedroom staff accommodation above. A premium of £175,000 was achieved for the site, and a passing rent of £65,000 per annum exclusive.
David Evans told the Publicans Morning Advertiser, If it is successful well look at opening a further four or five Belle-branded pubs and hotels in central London. Sports Bar & Grill is also eyeing expansion opportunities across the capital, with plans to add to its existing operations at Victoria, Marylebone, Farringdon and Waterloo.