Fri 17th Oct 2014 - TIAA Henderson buys Spirit portfolio for £54m TIAA Henderson buys Spirit portfolio for £54m: TIAA Henderson Real Estate has bought a portfolio of eight pub freeholds in Central and West London, all let to Spirit Pub Company, from Cerberus Capital Management for £54m, or an average of £6.75m each. The pubs are the Shakespeare’s Head on Great Marlborough Street, the Friend at Hand in Bloomsbury, the Roebuck on Chiswick High Road, the Rutland by the Thames in Hammersmith, the Ship in Mortlake, the Museum Tavern on Great Russell Street, the Goat on Kensington High Street and the Two Chairmen near St James’s Park. JLL provided investment advice. Davis Coffer Lyons advised TIAA Henderson. Trevor Watson, director of valuations at Davis Coffer Lyons, said: “This purchase is the finest portfolio of Central London freeholds to change hands in recent years.” Bradford Brewery secures £300,000 of angel investment for brewpub launch: Bradford Brewery, which aims to put the city on the map for high-quality brewing, has secured £300,000 of angel investment to support its growth plans. The investment, which has been secured through Envestors North, will enable the brewery to launch from its own fully refurbished brewpub, the Brewfactory, on Westgate and support its marketing drive to attract further expansion capital. This latest boost comes after the recent announcement of a new £50,000 loan facility agreed by the Bradford-based loan provider Business Enterprise Fund. Bradford Brewery, under managing director Matthew Halliday, has already negotiated with the property owner, Shaw’s Moisture Meters, which is contributing £200,000 to the refurbishment of the site. The brewery will use the investment secured through Envestors to complete the property renovation, purchase its first brewplant, with a brewing capacity of 90m hectolitres a week, and bolster its cash balance ready for going live towards the end of this year. Envestors North, which incorporated Yorkshire Association of Business Angels into the business last year, provides an introduction service for private equity investors, entrepreneurs and companies seeking finance. It typically provides investment of between £300,000 and £1m for younger companies and up to £10m for more established businesses. Halliday said: “Bradford Brewery is a new business with big ambitions. We want to be as synonymous with the city as David Hockney, Bradford Bulls and Bradford City Football Club. This investment, coupled with our own funds and the recently approved loan facility from Business Enterprise Fund, will allow us to enter the market from a very strong financial position. We’ll be working to make sure there’s a Bradford beer on the bar of every pub across the district.”