UK-based hospitality company Brakspear is expanding its leased and tenanted (L&T) estate through the acquisition of two pubs in Hampshire from New Dawn Pubs.
The Rose & Crown and The Royal Exchange will join Brakspear's portfolio of 110 L&T premises. Both have robust existing food and drink trades and picturesque village locations.
Brakspear CEO Tom Davies said: “These beautiful and popular rural pubs will be a perfect fit for our existing L&T estate. We’re delighted to have secured them and created a presence for Brakspear in Hampshire for the first time.
“Both pubs enjoy an excellent reputation locally and we’re confident that they will continue to thrive, particularly as we move into the summer, thanks to their attractive outdoor trading spaces.
“We intend these to be the first of many acquisitions during 2024, as we look for new pubs to join both our L&T estate and the Honeycomb Houses managed division.
“Despite the challenges our industry continues to face, we are confident that, with the right site and the right business partner or general manager, we can build a successful pub.”
The Rose & Crown, situated near Alton, is a traditional village pub located in the South Downs National Park, minutes from the A31 near Farnham.
The pub claims to have been established as an ale house in 1810 by Edward Knight, brother of novelist Jane Austen.
The second pub, The Royal Exchange is located in the heart of Lindford, near Bordon.
The pub underwent a significant refurbishment in 2022. It serves a menu with seasonal ingredients sourced from local suppliers, alongside a selection of local craft beers and fine wines.
New Dawn Pubs managing director Mark Robson said: “These pubs have been a fantastic part of our collection over the last several years, and a real hub for the local communities, just as we believe pubs should be.
“Their success is hugely attributed to the hardworking teams who have been the beating heart of these sites.”
Brakspear has identified operators to take over the management of these establishments.
The acquisition was facilitated by Fleurets, a property advisor specialising in the leisure and hospitality sector.
