Coffer Corporate Leisure

Coffer Corporate Leisure is delighted to announce the sale of the iconic Covent Garden restaurant and brand, “Christopher’s American Bar and Grill”, on behalf of the owners.

Coffer Corporate Leisure is delighted to announce the acquisition of the Marriott Hotel Marble Arch investment on behalf of London & Regional Properties.

Novus Leisure, the bar and club group, has signed a deal with Jongleurs to operate comedy nights at its venues.

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Coffer Corporate Leisure is pleased to have provided advice in respect of the sale of a substantial interest in west London landmark conference and exhibition centre Earl’s Court and Olympia to Capital & Counties, a Liberty International subsidiary.

Further to our previous disposal of three clubs on behalf of LA fitness to Nuyuu - a new health and fitness concept described as a “value for money gym offering” backed by Hamilton Bradshaw - we are pleased to announce a sale of a further two clubs to them. The clubs are located in Newbury and Stevenage.

Like-for-like sales across Britain’s leading pub and restaurant groups grew 2.9% in December, compared to the same month in 2008. Total sales were ahead 4.7%, marking a healthy performance by big name operators over the festive season – and demonstrating that consumers are still willing to go out to eat and drink.

There has been plenty of noise about deals in the leisure and hospitality sector recently, and, although they tend to be relatively small, all those deals, whether in restaurants, health and fitness, late night bars or pubs, have one thing in common — private equity. Private equity houses and the businesses they back are acquiring assets to take advantage of distressed prices. Even the truest “private equity” — wealthy private individuals — are responding to the low returns from savings accounts by using their cash to get back into the market. The problem, however, is that few people are selling.

Coffer Corporate Leisure can announce it has advised on the sale of 11 Tootsies restaurants to Giraffe Concepts, the restaurant group backed by private equity firms Risk Capital Partners and 3i, after the chain was placed into administration by Clapham House Group.

Coffer Corporate Leisure is pleased to announce it has advised LA fitness, one of the UK’s largest private health and fitness operators, on the sale of three clubs to start-up company NuYuu Ltd, a value health and fitness operation backed by private equity house Hamilton Bradshaw.

It remains “steady-as-she-goes” for Britain’s leading pub and restaurant groups, with latest sales figures for August just ahead of last year.

The administrators of Brinker International’s UK arm have appointed Coffer Corporate Leisure in association with Davis Coffer Lyons to find buyers for the group’s eight sites.

Encouraging figures from Britain’s leading restaurant and pub operators show that sales are generally holding up against last year despite the squeeze on consumer spending and increased competition from supermarkets.

Coffer Corporate Leisure is delighted to announce the acquisition of a group of seven Walkabout bars from Regent Inns on behalf of Cavendish Bars.

Legendary Soho institution Ed’s Easy Diner has been acquired by a management buy-in team lead by ex Pontis Chief Executive Peter Featherman and backed by Rankvale.

Coffer Corporate Leisure has introduced and advised Luke Johnson and Risk Capital Partners on the acquisition of Baker and Spice Ltd from Administrators Nick O’Reilly and Geoff Rowley Partners at Vantis Business Recovery Services.

The UK arm of continental coffee shop and bakery Le Pain Quitidien has been sold back to its franchisor and brand owner PQ Licensing S.A for an undisclosed sum. Coffer Corporate Leisure advised holding company Village du Pain Ltd on the sale.

Broken Foot Inns, the independent pub group, has sold seven free-of-tie lease pubs to Faucet Inn and one leasehold pub to Capital Pub Company through corporate leisure property specialist Coffer Corporate Leisure.

Clapham House Group, the Aim-listed restaurant operator, has sold its Indian food brand Bombay Bicycle Club through leisure specialist Coffer Corporate Leisure.

Sheffield United have announced the sale of the Thames health and fitness club.

Historically, it has been seen as fundamental by much of the leisure and hospitality sector to own the property in which the business operates. In particular, pub and hotel operators have, traditionally, nearly always owned the property from which they traded. As these markets have matured, it has become commonplace for operators to trade out of property that is leased rather than owned. Over the past decade or so, a number of operators have realised that the value of the property in isolation can be worth as much as, and sometimes more than, the combined freehold operating business. As such, several owner-operators have unlocked value by selling property for development, and through sale and leaseback...

The last 12 months have been a roller coaster year in the hotel market, which witnessed significant transactions across the sector, particularly involving private equity backed companies, including the headline grabbing Hilton Hotels Corporation acquisition by Blackstone. However, it was not all smooth running and the sector was also defined by the failure to place the first dedicated hotel REIT and the fall out of the US subprime mortgage woes resulting in the credit crunch which overcasts the sector and wider economy.

Marco Costa, the son of Sergio Costa who founded Costa Coffee, has acquired 12 sites from Natural Café, the 15-strong coffee chain that was placed into administration at the end of February, for an undisclosed sum.

Coffer Corporate Leisure (CCL) has advised Orchard Care Homes (OCH) on a second tranche of sale and leaseback transactions comprising three residential/nursing homes.

The leisure property industry’s first fully-integrated advisory business has been launched.

Hamburger Union has completed the sale of its five Central London restaurants to The Noble Organisation, the owners of the Aberdeen and Angus Steakhouse restaurant chains. Coffer Corporate Leisure acted on behalf of vendor Kelwhistle Ltd in the sale that sees Hamburger Union retaining its new Westfield Derby unit as well a site in Hampstead, North London.

Capital and Counties has bought premier London restaurant and bar group Covent Garden Restaurants and has as part of the deal entered into a long-term management agreement with London Brasseries who will be operating the businesses.

Orchard Care Homes (OCH) have agreed a sale and leaseback to ING Real Estate of four turnkey care homes in the north of England.

Coffer Corporate Leisure, the corporate disposal specialist, has advised on the sale of two freehold properties owned by Puzzle Pubs Company.

Coffer Corporate Leisure (CCL) has advised on the sale and leaseback of nine properties trading as Revolution vodka bars.

Coffer Corporate Leisure has advised a major shareholder in Druckers Café Patisseries in the recent sale of the business to Patisserie Holdings which is owned by Risk Capital Partners. The terms of the transaction are confidential.

Coffer Corporate Leisure (CCL) has advised Orchard Care Homes (OCH) on a £70m sale and leaseback transaction that sees a JV between Invista and Prestigic Holdings acquire a portfolio including 6 existing care homes and a commitment to acquire three turn key properties in the North of England. The deal has part funded a £175m MBO of OCH, led by Paul Mancey.

Leisure mergers and acquisitions specialist Coffer Corporate Leisure has sold Gourmet Holdings PLC’s Bel & the Dragon pub group to late-night operator Ultimate Leisure PLC for £8.75m, subject to shareholder approval.

Acting on behalf of the Puzzle Pub Company, specialist leisure M&A advisor Coffer Corporate Leisure has sold 7 leasehold bars in central London to the Food & Drink Group PLC for £1.225 million.

Leisure mergers and acquisitions specialist Coffer Corporate Leisure (CCL) has sold the Cedar Pubs Company portfolio to Peter Brook’s InnDeed Group for £3.175m. The portfolio comprises 6 freehold traditional pubs across the Midlands and Northern Counties.

Howard Tillman and Carlo Spetale’s First Restaurant Group has completed the acquisition of restaurateur Tom Etridge’s Frandek; a group of 3 high profile London gastropubs comprising The Ebury in Pimlico, The Running Horse in Mayfair and The Waterway in Maida Vale.

Coffer Corporate Leisure (CCL) has made two senior appointments in response to the continuing surge of corporate activity in the leisure sector.

Family run City wine bar company Balls Brothers has bought City gastro bar group Lewis & Clarke, which operates seven sites in and around the City of London including The Sterling on the ground floor of the “Gherkin” building (30 St Mary Axe).

Acting on behalf of Patisserie Valerie owners Enzo, Victor and Robert Scalzo, Coffer Corporate Leisure

Health and fitness chain LA Fitness (LAF) backed by leading private equity group MidOcean Partners (MOP) have announced the completion of the sale of MOP Acquisitions (Propco) Limited to a subsidiary to R20 Limited, the private investment vehicle of Robert Tchenguiz, for a price in the region of £50m.

Health and fitness chain LA Fitness (LAF) backed by leading private equity group MidOcean Partners (MOP) has acquired Crown Sports Plc (CSP) for a price in the region of £58 million. The deal sees LAF take control of 21 Dragons health clubs strategically located throughout the UK as well as CSP.s existing management team.

Coffer Corporate Leisure (CCL), specialist M&A advisor to the leisure sector, has advised on the £60 million sale and leaseback of the Little Chef UK portfolio.

The Leisure Sector's first dedicated mergers & acquisitions advisor was this week unveiled with two major transactions. Coffer Corporate Leisure (CCL) has been launched to capitalise on the mounting activity and sophistication of transactions in the sector.