Geronimo buys Chelsea pub
Geronimo Inns, the London group which recently agreed a £60m deal with Young's, has added the Surprise pub in Chelsea to its 26-strong managed pub estate.
The group has agreed to pay £75,000 in rent per year for the leasehold property across a 10-year period.
The deal with landlord Cadogan Estate is thought to be free-of-tie.
The property, which is located near the Kings Road and Chelsea Hospital, is the fourth pub in Chelsea for Geronimo.
The deal was brokered by AG&G, the London-based property specialist.
Geronimo, which is led by Rupert and Jo Clevely, recently tied up a deal to sell the business to Young's. The move will see the Clevely's retained by Young's, with Rupert Clevely joined the board as an executive director.
