Orchid takes on lease at Sevenoaks pub

The Orchid Group has taken on a lease at the Crown Point Inn in Sevenoaks, Kent after its sale to Quercus Partners.

Quercus purchased the pub from Close Ventures for an undisclosed sum through agent Christie+Co.

The pub features a 40-cover open-plan bar, and two dining rooms with 110-covers. The sites also benefits from front and side patio area, large beer garden, and six-bedroom staff accommodation.

The pub was previously owned and operated by Close Imperial Pub Company, which had acquired the former Brewer's Fayre site from Mitchells & Butlers.

"The Crown Point Inn, which is situated in a prime site close to Sevenoaks, generated a good level of interest and demonstrates that there are still buyers in the market for well-located, good-quality assets," said Anthony Jenkins, associate director at Christie + Co.

Fudning was provided by Christie Finance. "Whilst many banks had little or no appetite to fund an investment acquisition we were able to identify a funding solution that met our client's needs," said finance consultant Chris Field.

"The yield and quality of tenant on such an investment is very attractive, when compared to other more traditional options.

"We are currently working closely with Quercus Partners Ltd and Parkmill Pub Management Limited, who originated and structured the deal, as they consider other similar opportunities."