Realpubs snaps up three Punch Taverns freeholds

London pub operator Realpubs has bought three Punch Taverns freeholds for an undisclosed sum.

In addition to the three sites private equity backed Realpubs, founded in 2002, has bought the freeholds of two other pubs it already runs.

The three sites acquired from Punch - two former Spirit managed sites and an ex-Orchid pub which reverted to the pubco when Orchid went into administration earlier this year - are the Crabtree in Fulham, West London; the Mitre in the Holland Park district of the capital and the Hand and Flower in Chelsea.

The acquired freeholds of two pubs already operated by Realpubs are the Duke of Sussex on Acton Green and the Bald Faced Stag in East Finchley.

Realpubs' estate now numbers 13 sites, following today's announcement.

Realpubs co-founder Nick Pring told thepublican.com​ the group had identified the pubs it has bought as venues where it could add value and focus towards its target demographic.

"We think we've bought three cracking sites from Punch, pubs where we hope to put in a quality food offer using fresh produce.

"These sites will keep us busy for the next four to five months as we integrate them into our operation," he said, adding that the pubs' existing managers would be kept on.

Each pub will be temporarily closed whilst it undergoes major refurbishment and will re-open in the Realpubs style, he said.

David Zimmermann, a partner of Brockton Capital which has funded Realpubs development programme, said the acquisitions were strategic and would "help to deliver further operating efficiencies for Realpubs as the business grows.

"We are delighted that we were able to acquire these pubs from Punch Taverns and add to a business and a team we at Brockton Capital are supporting."