Mosaic acquires three city centre pubs in Birmingham
Mosaic Pub and Dining has paid £1.3m to buy three Birmingham pubs as part of its growth plans in the city.
Edmunds Bar & Brewhouse on Edmund Street, The Queens Arms on Newhall Street and The Rectory Bar in St Paul’s Square will be added to Mosaic’s two other Birmingham pubs – the Distillery and the Button Factory. These acquisitions take the total number of pubs in the Mosaic portfolio to 21 across the UK.
The deal was managed by Christie & Co, led by senior business agent, Charles Jones.
All three pubs were brought to market for sale as a group following the decision of their previous owner, James Dunphy, to exit the industry and pursue other opportunities in property. Dunphy said:” Charles approached me earlier this year to discuss the disposal of my group. After careful consideration I decided to instruct Christie & Co on my behalf, and within a very short space of time they found a new buyer.”
Mosaic bought the whole estate, and believe that the location of their three new venues offer them a valuable growth opportunity, as they are ideally situated around the financial district and the Jewellery Quarter.
Mosaic’s Peter McDonald added: “Birmingham is already an important location for us and this deal has been an ideal opportunity to increase our presence in the city with all three sites having exciting potential , and additionally there will be logistical and purchasing benefits.”