Cotham Porter Stores purchased by independent real ale brewers, Wickwar Brewing Co.
Specialist property adviser Christie + Co is delighted to announce the successful sale of Cotham Porter Stores, in Cotham, Bristol.
Instructed as part of a large corporate disposal of pubs, Christie + Co undertook a strong marketing campaign which generated a significant amount of interest as many people spotted the potential for this pub, located in an affluent area of Bristol, close to Bristol University and the BRI Hospital.
The sale of Cotham Porter Stores completed for an undisclosed sum in June 2013 off an asking price of £250,000 to local real ale brewer, Wickwar Brewing Co.
Wickwar Brewing Co is owned and run by Chairman Mike Watts, previously CEO of Morland Brewery (brewers of Old Speckled Hen), Mike Flavin, previously Operations Director at Avebury Taverns and Ian Frost previously Commercial Director, also at Avebury Taverns.
Mike Watts says: ”We are delighted by the way our brewing and pub businesses are performing in these difficult economic times. The quality of our ales has never been better as evidenced by us being crowned Best Local Beer Producer at the 2012 Bristol Good Food Awards.”
With two pubs in Bristol already, Wickwar Brewing Co has been looking to expand its portfolio and considers Cotham Porter Stores a perfect opportunity for this.
Concerns were raised when the pub initially shut down as locals feared they might lose their favourite watering hole. With confirmation that Wickwar Brewing Co is the new owner, reassurance can now be offered to locals who will be able to enjoy locally-brewed, good quality ales. In addition to their own core range, Wickwar plans to have at least four guest ales or ciders available at all times, that will be served straight from the cask.
The new owners are currently upgrading the existing facilities and plan to open to the public on 22 August. They are already planning a second phase investment which is expected to take place next year.
Nicholas Calfe of Christie + Co’s Bristol Office handled the sale. He says: “Cotham Porter Stores attracted many offers from several interested parties indicating growing demand for quality freehouses in and around Bristol city centre.
“I wish Wickwar Brewing Co every success with their new venture and hope it strengthens an already growing business.”