Urban Pubs & Bars buys 11 former Antic pubs out of administration

Eleven pubs which previously formed part of the Antic hospitality group have been bought out of administration by Urban Pubs & Bars (UPB).

 

The sites are spread across the capital and include Balham Bowls Club in Balham, the Antelope in Tooting and the Sun in Camberwell.

 

They form part of a portfolio of 13 Antic pubs and bars which fell into administration in July after some sites struggled with debts built up during the pandemic.

 

Dogstar in Brixton, Tooting Tram and Social in Tooting and Coopers in Crystal Palace were not included in the sale but will continue to trade while administrators remain in discussion with interested parties.

 

UPB has acquired eight trading leasehold businesses and three vacant freehold sites from administrators.

 

The expanding leisure business, which already operates 44 pubs, bars and restaurants across London, will assume control of the sites with immediate effect.

 

Joint administrator Steve Absolom from Interpath Advisory said: “This eclectic group of popular pubs and bars have traded well since our appointment just over seven weeks ago and buyer interest has been extremely strong.

 

“We are delighted that we have been able to secure this transaction with UPB and importantly safeguard the jobs for their loyal and hard-working employees.”

 

UPB, which was founded by Malc Heap and Nick Pring in 2014, has already doubled the size of its estate since the pandemic. It is one of London’s fastest growing pub businesses, with the latest deal taking the group to 52 trading sites.

 

Its flagship pubs include the Wheatsheaf in Tooting, the Gatehouse in Highgate, the Bat & Ball in Stratford, the recently-opened Red Setter in Battersea and the Victory in Waterloo.

 

Earlier this year, UPB announced group EBITDA of £6.4m for the financial year-ended 30 April 2023, an 11% rise on the prior year. Like-for-like sales increase by 17% and turnover increased by almost 60% to £52.2m.

 

The eleven pubs acquired by UPB include:

 

 

Leasehold Sites

 

Red Lion, High Road Leytonstone

 

East Dulwich Tavern, Lordship Lane

 

The Antelope, Mitcham Road

 

Hagen & Hyde, Balham High Street

 

Balham Bowls Club, Ramsden Road

 

Clapton Hart, Lower Clapton Road

 

Elephant & Castle, Newington Causeway

 

The Sun of Camberwell, Coldharbour Lane

 

 

Freehold Sites

 

The Volunteer, Powis Street

 

The Mews, Norbury Crescent

 

Linman & Turner, Penge High Street