Mosaic Pub and Dining acquires three Birmingham pubs
In a highly confidential, off market transaction, specialist business property adviser Christie & Co has completed on the sale of three closed Birmingham city centre venues to Mosaic Pub and Dining, an expanding pub operator led by Peter McDonald and James Watson.
Edmunds Bar & Brewhouse on Edmund Street, The Queens Arms on Newhall Street and The Rectory Bar in St Paul's Square were brought to the market as a group and, having been introduced to the owner of the sites through Christie & Co, Mosaic decided to acquire all three to add to its growing portfolio.
Under the previous ownership, the sites were run as traditional public houses, and included a micro-brewery at Edmunds. Previous owner James Dunphy decided to exit the industry to pursue new property opportunities and comments, “Charles approached me earlier this year to discuss the disposal of my group. After careful consideration I decided to instruct Christie & Co to act on my behalf and within a very short space of time they found the ideal purchaser. I would like to thank Christie & Co for their efforts; it was a seamless transaction from start to finish and Charles was always on hand if I had any questions during the process. I would not hesitate to recommend Christie & Co to anyone in a similar position to myself. The service provided was second to none and I wish the best of luck to Mosaic Pubs.”
Already operating The Distillery and The Button Factory within Birmingham, Mosaic Pub and Dining identified the three venues, ideally situated around the financial district and the Jewellery Quarter, as a valuable growth opportunity to firmly cement their footprint on the ever-expanding leisure scene in the city. This purchase will take Mosaic up to 21 sites across the UK, with their existing sites renowned for excellent drink variety, innovative menus and an appeal to a broad market.
Peter McDonald from Mosaic Pub and Dining comments, “Birmingham is already an important location for us and this deal has been an ideal opportunity to increase our presence in the city with all three sites having exciting potential, and additionally there will be logistical and purchasing benefits.”
Charles Jones, Senior Business Agent at Christie & Co, who handled the sale comments, "I’m delighted to announce the off-market sale of a group of three pubs in Birmingham. I met with the vendor early March 2018 and within one week the offer was accepted. Four months later the sale has now completed, adding three sites with fantastic potential to the existing estate. I’m sure each of these pubs will be a tremendous success for the purchaser."
The sale completed off an asking price of £1,300,000.
