The leasehold of the Stamford Arms in Bowdon has been sold, paving the way for a major investment by a new Dubai-based company.
Leisure Trade Industries Limited, represented by Savills, has sold the leasehold to The Bracken Pub Co for just under the asking price of £150,000.
It had been under offer since last summer, but the deal was only completed earlier this month.
The well-known Altrincham pub, located on The Firs, is owned by the Greene King brewery.
It had been marketed as having “huge scope” to increase the turnover of the business, which has been around the £500,000 mark per annum.
The deal for the two-storey pub includes the bar and lounge area, large function room, basement beer cellar and three bedroom tenants’ accommodation. It’s a 10-year rolling lease, with the new leaseholders having an automatic right to renew the lease when it expires.
It’s not yet known what plans the new leaseholders have for the pub, but it’s understood that they will be making a significant investment in a bar/restaurant format.
Any plans would be likely to face close scrutiny from neighbours and the council, particularly as the pub falls within the Bowdon Conservation Area.
Tom Cunningham, licensed leisure director at Savills, told us there had been “really good interest from regional and national operators” in the pub.
“It’s testament to the location,” he said. “Hale is full up now and if the new leaseholders get the concept right they will do very well.”
He said a higher offer had been received for the pub but that the pub owners had opted for The Bracken Pub Co.
The new leaseholders renamed its company to Kitchen & Tap Co Ltd last July and are understood to be experienced restaurateurs.
Its directors are Alex Bracken, Rhitu Parihar and Nicholas Theaker, who all work for Dubai-based hospitality company 4-Front Facilities Management. Theaker was previously the general manager of Simon Rimmer’s Earle restaurant in Hale before moving to take the same post at Rimmer’s The Scene restaurant in Dubai.
