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Morning Briefing for pub, restaurant and food wervice operators

Wed 29th Oct 2014 - Propel Wednesday News Briefing

Story of the Day:

Sam Smith’s raises prices in Scotland to match London: Sam Smith’s, the Tadcaster-based family brewer and retailer, which operates around 200 pubs but shuns publicity, has broken with tradition by raising prices in Scotland. The company has prided itself on running all of its estate on a managed basis while pegging prices for years. Now, in a break with tradition, the company has introduced large price increases. A pint of cider, for example, has increased in price by £1 to £4.24 with bitter rising by 90p a pint. Brewery chief Humphrey Smith, who has a reputation for eccentricity, has written to complaining customers of one pub, the Cramond Inn in Edinburgh, criticising Scottish licensing laws, praising the late Lady Thatcher, and addressing the rant to his "former regulars". He said the brewery had introduced “London prices” to the Cramond Inn because Edinburgh and the English capital were the same distance away from its Tadcaster headquarters. He wrote: “Scotland is a highly regulated and bureaucratic country and becoming more so, unlike the rest of the UK, where, no doubt largely due to Mrs Thatcher, regulations have been made much easier, more efficient and less bureaucratic. Edinburgh is more than 200 miles north of the brewery and we have raised our retail prices in Scotland to the same level as in London which is 200 miles south of our brewery in Tadcaster.” Around 30 fed-up customers have written to Samuel Smith claiming their "beloved watering hole had gone from being one of the cheapest in the village to the most expensive". The Cramond Inn is 300 years and was owned by the local Proudfoot family for almost a century until 2002. In 2009, Humphrey Smith told an industrial tribunal that the company had pegged prices since 1990 because even a 10p rise in beer price would hit brewery production. He was defending a claim for constructive dismissal from former pub managers who had been ordered to increase their working week to reduce staffing costs – they were allowed a 45 hours weekly allowance for other staff. Explaining the pricing policy, he said: “We want this business to be around in 200 years’ time so we want to hold up barrelage and maintain employment within the brewery.”
 

Company News:

Brighton residents oppose Soho House plan: Sea-front residents in Brighton are opposing a plan for a Soho House site in a proposed redevelopment of the Terraces in Madeira Drive, Brighton. The residents argue the development, which will house Pizza East, Dirty Burger and Chicken Shop, will block current views of the sea. Residents are upset about the transformation of council-owned public space into a private members’ club and the construction of new buildings which will be ten feet high along Marine Parade. The site’s prospective neighbours point out that the plans to create the existing site made great pains to ensure the building did not hinder sea views, going as far as designing the roof with a wave effect, to compliment the sea. The developer, Brighton Seafront Regeneration, says the redevelopment is needed because the existing site has become dilapidated. Adrian Morris, a Labour Party council candidate for Queen's Park, called on developers to work with residents on adapting the plans. He said: “The current plans will obstruct views of the seafront and fail to improve the integration of the development between Marine Parade and Marine Drive. I have been contacted by residents who have already opposed the proposal and a better solution must be found.”

Spearmint Rhino future in Bournemouth is subject to licence review: The future of the Spearmint Rhino lap dancing club in Bournemouth will be decided by councillors in December, after 15 people objected to its licence being renewed. The Spearmint Rhino venue in Yelverton Road was recently investigated by licensing officers, who witnessed dancers and customers breaching the club’s strict "no touch" rules. Now the council has received 15 objections to the club’s application to renew its licence, meaning it will go before the council’s licensing committee on 2 December. One of the people who has objected is Rev Dr Tim Matthews, of St Swithun’s Church on the East Cliff. He called for the council to place its recent inspection report in the public domain so residents could “judge for themselves” whether the club should be allowed to continue operating. Dr Matthews said the council should resist the temptation to simply impose extra conditions on Spearmint Rhino’s licence.

Scottish luxury hotel project gets poor crowdfunding response: The developer Corryard Holdings has seen a very low level of investment on Crowdcube after seeking to raise £1m in return for a 20% stake in a project to develop a five-star hotel in Crieff, near Perth in central Scotland. With just two days left, the scheme has raised £35,680, just 3% of the total it was seeking. The pitch states: “We will use the funds towards the renovation of an A-listed church in Crieff, Perthshire, Scotland into a five-star ‘Exclusive Use Hotel’ (as defined by VisitScotland Tourist Board). The Monzie Hotel is the owner of the church. Corryard is an award-winning specialist building company, focusing on renovating listed buildings. The Monzie will have 12 bedrooms, with large open areas within the body of the former church.”
 
Alex Geffert steps down from Luminar board: Alex Geffert has stepped down from the board of the Luminar Group to pursue his outside interests. Geffert, a nightclub veteran, joined the board in December 2011 as chairman and latterly has been a non-executive director. He was instrumental in putting together the deal that bought most of the current clubs from the administrators after the demise of Luminar. Bob Brannan, chairman of the Luminar Group said: "Alex has been instrumental in the turnaround of Luminar and its return to profit, creating a robust platform for growth and development. We would like to take this opportunity to wish him all the best for the future.”
 
Noble Inns executive chef offers more details on new egg concept: Neil Rankin, the executive chef of Noble Inns, has provided more details of the company’s forthcoming Bad Egg concept. The brand, opening in Moorgate, in the City, will be an all-day dining concept, featuring egg-based dishes from around the world including a Korean hash, North African baked eggs and a redesigned full English breakfast. Rankin told the Evening Standard he was “a bit of an egg pervert”. “My chefs get annoyed with me, and say whenever I change a dish I always just put an egg on it,” he said. As well as egg-based dishes, which include Indian and Malaysian-inspired breakfasts, the menu at Bad Egg will include burgers and ribs, but no desserts. Rankin said: “Brunch is the new thing. I try to think of what the next thing will be. I’d love to do an ordinary menu, but it never happens. I get carried away.” The next Propel Multi Club conference on 20 November will feature Simon Holroyd, managing director of Noble Inns, talking about the company’s journey, its food offer, its approach to design, and its new concept.
 
Atlas Group to open Leeds pizza brand and cocktail bar: The Leeds-based Atlas Group, which operates the Épernay, Atlas and Pour House bars in the city, is to open a pizza brand and cocktail bar, Buca di Pizza, on Wellington Street. It occupies the former home of La Grillade, which closed its doors just before Christmas last year after 30 years in business, because of rent issues. The menu will include pizza variations such as the Wing Commander, served with a topping of chicken wings and hot sauce, and the Aragast, which comes topped with a full lobster and is priced at £39. The operations manager for the Atlas Group, Bruce Lerman, said: “The lobster pizza is a great talking point, but it is through our commitment to authentic Italian cooking techniques where Buca really shines. We have a real passion for all things Italian and make our pizzas using ancient Neapolitan traditions and the best possible ingredients.” The restaurant opens tomorrow (30 October) and has room for 120 customers.

Mimosa reverses hygiene rating at Telford branch: Mimosa, the three-strong pan-Asian buffet restaurant brand, has turned around the hygiene rating for its Southwater Telford branch in Shropshire. It received a one-star rating in July after mouldy food and flies were found but has now has received a five-star rating from Telford &and Wrekin Council’s inspectors in a follow-up visit. Head chef Bal Gill, who joined the restaurant a month ago, said: “I was absolutely over the moon that all our hard work has paid off. We put so much work in over the last couple of weeks, the whole team has worked so hard. We have changed the menu, the food is fantastic and as a restaurant you need both the food hygiene and quality of food to be good and we have got both and we have set very high standards. My message to people would be come back and give it a try. We have got a new menu, new food, more authentic and higher standards.” The Asian and world all-you-can-eat buffet restaurant was the first to open as part of the £250m Southwater development in June this year.
 
Harvey’s re-opens former Whiting & Hammond pub with miniature version of shop: The Lewes-based brewer Harvey’s has re-opened a former Whiting & Hammond site, the Old Dunnings Mill in East Grinstead, Sussex, with a miniature version of its Lewes shop on site. The pub reopened after a two-week refurbishment as part of Harvey's new managed division. Manager Emily Hopkins, who comes to the pub from the Sussex Ox in Alfriston, has overseen the renovation since moving in a few weeks ago. She said: "Obviously there's that pressure to keep standards up. It's nerve-wracking but exciting. We've heard from previous customers who said they're really looking forward to seeing what we've done with the place. We don't want to drastically change anything, we just want to put our touch on it and give it a fresh look and feel." The changes include a new kitchen, a redesigned cosy seating area next to the fire, new furniture and a miniature version of the Harvey's shop in Lewes, which replaces the wine rack in the centre of the pub.

Porky’s BBQ opens third site in London: Porky’s BBQ has opened a third restaurant in the Boxpark pop-up mall in Shoreditch, East London. Porky’s BBQ Boxpark is on the first floor of Boxpark, described as “the world’s first pop-up mall built entirely from shipping containers”. Porky’s takes up four interconnecting containers with two separate entrances, one leading to the restaurant and bar, with a separate takeaway counter at the opposite end.
 
Tullymore House to open Belfast pizza brand: Tullymore House, the company behind the award-winning Galgorm Resort and Spa and a proposed £12m hotel development in the Scottish Mutual building in Belfast city centre, is to open a Fratelli pizzeria in Belfast. The company, which received planning permission to transform the Scottish Mutual building opposite Belfast City Hall into a luxury boutique hotel earlier this year, is to open the concept on the site that formerly housed the Malt Room Bar & Restaurant . It will open on 17 November. The restaurant will be set over two floors, the ground floor with restaurant seating for 100 covers and an open style kitchen and the first floor with one large function room/restaurant for seating 100 covers, with plans to extend outside with a terraced area opening next spring seating around 40.

Italian restaurant owners hail switch to better burger brand: The owners of an Italian restaurant that has switched market segment to become a "better burger" specialist inspired by visit to brands in London have hailed its first few weeks of trading as "great". Facing a saturated Italian market in Worcester, the owners of Puccini's decided to open a better burger brand, Burgerworks. The brand, which opened a fortnight ago, is the inspiration of Arvin and Therese Gautama, who ran Puccini’s in Friar Street for 11 years. Theresa Gautama said: “We decided that Worcester needed something new and fresh, so Burgerworks was born. The response so far has been brilliant and we’re thrilled with the support we’ve received – we’ve been really busy. When you swap a really successful, popular business for a new one there’s obviously a risk involved but the custom and feedback so far has been great.” Inspiration came to the couple after trips to burger restaurants in London such as Byron, Honest Burgers and Patty and Bun. Burgerworks’ menu champions local produce and consists of burgers made from 100%grass-fed Herefordshire beef, and free range lamb and chicken from H Dayus Butchers in Worcester There is also locally sourced vegetables, artisan buns and craft beers, as well as fish, vegetarian, healthy and gluten-free options, and a children’s menu.

Prezzo secures Wisbech site with Tesco as landlord: Takeover target Prezzo is set to open a restaurant in the Fenland market town of Wisbech, Cambridgeshire. It is taking a 2,572 sq ft unit at 2 Cromwell Road on the retail park on a new 25-year lease. The landlord is Tesco Stores. The rent was not disclosed. The Italian chain will create 15 to 20 new jobs when it opens. Prezzo was advised by Restaurant Property’s agency director David Rawlinson. “Wisbech is a thriving market town which is ripe for the great family offer that Prezzo offers.” Rawlinson said. Morgan Williams advised Tesco.

Jackson & Rye open third site in Richmond: The New York-style restaurant, cafe and bar Jackson & Rye, owned by entrepreneur Richard Caring, has opened in Richmond, Surrey on Heron Square, occupying a 3,700 sq ft site with 140 covers. Graham Ford, the chain's operations director, said: “We’re delighted to be launching our third site in a prime position in Richmond. This is an important step in the development of the brand and we look forward to bringing our exciting and innovative concept to the area and are confident that it will quickly become a favourite haunt for locals and visitors alike.” Jackson & Rye Richmond is currently offering an introductory 50% discount off food only throughout its soft opening until 4 December.
 
Lucky Voice launches Singstation: Lucky Voice, the karaoke bar operator and leading supplier of high-quality karaoke solutions, has launched Singstation, described as “the ultimate commercial karaoke system for bar and leisure operators”. The company claims an estimated cost saving of £1,500 for venues that opt to install Singstation as an alternative to the traditional audio-visual equipment required to create a karaoke room. Singstation also claims to offer any business interested in karaoke the ability to keep initial set-up costs down, maximize ROI and leverage the Lucky Voice bran’. Nick Thistleton, managing director of Lucky Voice said: "Designed to simplify the process of adding karaoke to a venue and provide a cost effective installation solution, Singstation is a fantastic karaoke system that combines our in-depth industry knowledge with user-focused product design. With a catalogue of over 9,000 classic and current tracks our software and service is as strong as ever. But by combining this with the Singstation, an upgraded version of the hardware we currently have installed in over 40 venues around the world, we know we’ve created a product that will resonate with the trade and their customers.”

Batemans benefits from growth of international taste for dark beers: Supporting its aim to double its export business year on year, Lincolnshire-based family brewer Batemans has signed an exciting new distribution agreement for Dubai, the first time its beers will be available in the Middle East. The deal sees Batemans expand its export portfolio to nine countries across four continents, including Australia where Batemans’ full bottle range has been performing well for two years now, as well as new market Chile. Additionally, over 40,000 pints of Batemans beer have been sent to Russia so far, in order to supply bars as far afield as St Petersburg and Moscow. Craft beer is becoming increasingly popular in Russia and there is a real demand for brands with strong tradition and brewing heritage. Other international success for Batemans includes the exportation of their classic range beers, along with Bohemian Brews in bottle and draught, to countries including Hong Kong, Singapore, and Scandinavia. Batemans has been working exclusively with Worldwide Drinks to develop its international availability. Stuart Bateman, managing director of Batemans Brewery, said: “We are thrilled that Dubai will be getting a taste for Batemans beers, and with the continued development of our export portfolio as a whole. Most international markets are traditionally lager focused but, as they develop and become more mature, they are increasingly looking for something new and of a higher quality. There’s now a huge demand for darker beers and a real resurgence in people being interested in special, specific beers rather than the mainstream – largely reflecting what’s happening in the UK.”

Technomic research shows McDonald’s Millennials problem despite modest price increases:
Research by the insights firm Technomic shows the depth of the McDonald’s problems in the United States, where it still has 40% of all its global sites and where it has seen 12 consecutive months of declining sales. The day before McDonald’s revealed its horrible sales figures, Chipotle announced 20% growth in revenues. The number of 19 o-21-year-olds visiting McDonald’s once a month has fallen by 13% since 2011, according to Technomic, while the number of 22 to-37-year-olds visiting has not grown. McDonald’s hamburgers were recently named the worst in the US in a poll of more than 32,000 American diners, who said they would rather eat a burger at Five Guys, Smashburger or Fuddruckers. Prices at McDonald’s in the US have increased by 4.8% since 2009, well below the “quick service” sector average (up 19.4%), while the cost of “fast casual” eating, a category that includes the much-hyped Chipotle, is up 16.9% according to Technomic’s menu monitor. US consumer prices rose 11% over the same period. Mary Chapman at Technomic said: “Prices have indeed gone up, but they haven’t gone up as quickly as the rest of the fast-service chains in the US.”
 
More details emerge on Jamie Oliver King's Cross plan: More details have emerged on Jamie Oliver’s plan for a new pub and restaurant in two historic buildings in King’s Cross, North London. The 17,200 sq ft project will see the refurbishment of the Fish & Coal buildings and Wharf Road Arches overlooking Regent’s Canal. The Fish & Coal buildings were built in the 1850s and 1860s for clerical workers associated with the coal trade and were later used by staff administering the distribution of fish arriving at King’s Cross station. They were gutted by fire in 1983 but have been used for events. The Wharf Road Arches were home to the Cross nightclub but have been unused since it closed down in 2007. The western end of the Fish & Coal buildings will be converted into a pub, with a new roof conservatory and an outdoor roof terrace overlooking the canal. The upper floors will become a creative centre for the Jamie Oliver Group, while the lower level arches will form part of the new restaurant. The project is due for completion in 2016.

Las Iguanas secures Woking site: Las Iguanas, is to open a 4,766 sq ft site on the newly refurbished Woking Shopping centre on Commercial Way in Woking town centre, Surrey. The restaurant will open next spring and marks the brand’s Surrey debut. Ray Morgan, chief executive of Woking Council, said: “Las Iguanas is the latest great restaurant brand to acknowledge the significant opportunity Woking represents and another clear sign of the evolution of the town. It joins Bill’s, Carluccio's and the Tante Marie culinary academy in creating a concentration of high quality, highly popular restaurants that is a key step forward for Woking Shopping.” Eren Ali, managing director of Las Iguanas, said: “The sense of momentum in Woking is tangible, that is what drew us to Woking Shopping for our Surrey debut. Among the various options we considered, Woking stood out; the town not only has a clear vision, but through the actions of the council and the other stake holders it is proactively, and very effectively, delivering it. Las Iguanas will add to the town’s success, bringing some Latin flair to the mix.”

Barrister opens new-style Indian food concept: Former barrister Nisha Katona has opened an Indian restaurant in Liverpool, Mowgli on Bold Street, serving a menu of 20 addictive Indian dishes. “I went through everything I cook and I cut it down to 20 dishes that I am completely addicted to,” Katona told the Liverpool Echo “They are all Indian dishes – things that my grandmother passed on to my mother who passed them on to me. People need to come in with no preconceptions and let me surprise them. There’s no balti and vindaloo. That isn’t really Indian food. It’s an approximation of certain dishes from other areas that were wrongly labelled ‘Indian’. True Indian food, the beautiful Hindu dishes, is about spirituality and love. That’s where the name Mowgli comes from – it’s a pet name that I call my children, a name that says love and family and affection. If I won't serve it to my kids I don’t serve it here Everything is made here fresh – there’s nothing artificial, no cheats, nothing bought in.” Katona has a worldwide blog, more than 18,000 Twitter followers and hundreds of thousands of viewers of her YouTube cooking videos

Scottish hotel company placed in liquidation: A hotel owned by the chairman of Lossiemouth Football Club has gone into liquidation. Moray Hotel, which is the company behind the Mill House Hotel near Buckie, Moray, will be the subject of a liquidators meeting for creditors to be held in Aberdeen next week. The firm was part-owned owned by Royce Clark, the football club chairman. Alexander Fraser of FRP Advisory in Aberdeen has been appointed as interim liquidator.

Hyde set to create 100 jobs with pub/boutique hotel launch and pub estate expansion: The Manchester-based brewer and retailer Hyde's is to create more than 100 jobs with the expansion of its pub estate and the launch of a pub, restaurant and boutique hotel in the Northern Quarter of Manchester city centre early in December among a number of planned openings for the business. The Northern Quarter venue will be known as the Abel Heywood. Hydes described it as its most exciting recent acquisition. It will include a 14-room boutique hotel.

Sheffield city centre hotel on market for £1m after administration: A Sheffield city centre hotel has gone up for sale for £1m after its owner went into administration. The Cutler’s Hotel on George Street, a member of the Best Western Group, is being sold after owner Meridius went into administration last month. Joint administrators Phil Pierce and Ben Woolrych, from the restructuring and turnaround firm FRP Advisory, put the 45-bedroom hotel on the market after bringing in the hospitality agent Convivial Group to manage day-to-day operations. The three-star hotel was closed over the summer for maintenance work to be carried out but has been fully re-open since 13 October, with administrators reporting an encouraging rate of forward bookings. Pierce said: “The Best Western Cutlers Hotel is a prized asset at the heart of Sheffield city centre. The administration process has provided the cushion required to invest in upgrading the hotel’s systems and procedures and we now have a strong level of advance bookings stretching into November under the care of our managing agents.” The hotel is opposite the former Sheffield Banking Company building, which is to be turned into an independent art house cinema, due to open soon. Meridius entered administration due to "unsustainable pressure on the cash-flow of the company under its previous financial structure".

Landmark Southend restaurant to be rebuilt:
A landmark seafront restaurant in Southend, Essex is to be transformed with a £1.8m revamp. Fisherman’s Wharf, a popular fixture below Pier Hill for more than 30 years, is to be demolished and rebuilt next year in an ambitious scheme to turn it into a “destination restaurant”. The new two-storey building will have a modern, glassy look and a balcony overlooking the sea. The first floor could also double as a function suite, while the lower floor will increase in size by about a third, with the outside being a decked area for summer eating. Pending planning permission, work is set to start October 2015, so the business does not miss out on 2014's summer trade, with a predicted finish date pencilled in for April 2016. About 20 extra jobs could be created as part of the expansion, as at the moment the restaurant has to employ between 30 and 40 people to cope with the summer demand. The restaurant serves up a variety of seafood from the Thames Estuary and has been doing so since the 1930s.

Starbucks franchisees get go-ahead for second Worthing site: Starbucks franchisees Simon Coates and Michael Bradley have won planning consent for a second site in Worthing, Sussex. They will open a new town centre store in South Street having opened a first Worthing branch in Broadwater in August. Coates said: “The approval for a second store in Worthing is great news for us and the local community, adding 20 more jobs and increased investment in the high street. Our first store in Broadwater has had a fantastic reception – the meeting room is regularly booked and it’s great to see families enjoying the space.”

Marston’s licensee welcomes NewRiver Retail plan to build Co-op convenience store in his car park: A Marston’s licensee has welcomed one of the first applications by NewRiver Retail to build a Co-op convenience store in his car park. NewRiver Retail has signed a deal to build 63 Co-op convenience stores on pub sites within the 202 Marston’s pub it acquired last November. The majority are being built on surplus land. Bill Salmon, who runs the Goodrest Tavern in Worcester, has called the plan to add a Co-op in his car park "the future", with convenience stores and pubs working together. Salmon said: "The store is set for the car park right next to the pub, and I'm embracing it, even though it will mean sacrificing ten car parking spaces. Having a convenience store like this will benefit the local community, and see a new way in which pubs run alongside business ventures like this. Times are changing, and having mutually beneficial businesses working together is the future. These are certainly exciting times for everyone involved. We have a huge car park here, and if it can be put to better use then I'm all for it. This could boost trade for myself, which I will obviously always welcome.”

Epicurean Collection re-opens Mayfair pub: Epicurean Collection has re-opened its new site, the Punchbowl in Mayfair, Central London. The company also operates the Admiral Codrington in West London and a range of pubs across the South West. The Georgian pub has been given a complete refurbishment. The first floor has a restaurant, the Dining Room and the second floor is now a private space called The Club. The wine list has been put together by Tim Atkin and the kitchen is headed by Nathan Andrews, who previously worked at Petrus and Colbert and was head chef at the Albion in Islington.
 
Spirit’s Flaming Grill brand looks to align itself with football failures: The Spirit Pub Company brand Flaming Grill is on the search for football teams that are more Sunday League zero than Premiership hero as it looks to crown the UK’s worst football teams. Whether it is an 11-a-side or a five-a-side, the four best "worst" teams will be chosen from entrants across the UK to compete head-to-head in a football match for the chance to win a year’s sponsorship from Flaming Grill worth up to £1,000. Michelle Fisher, brand manager for Flaming Grill, said: “We’re looking for the worst of the worst; there are hundreds of teams out there every week playing in Sunday League and five-a-side competitions come rain or shine. We wanted to give a boost to some of those plugging away at the bottom of the table, by giving the losers a chance to win for a change.” To enter the competition, teams need to nominate themselves through the Flaming Failures app by visiting the Flaming Grill Facebook page www.facebook.com/flaminggrillpubs and explain why they think they could be the worst team in the UK.
 
Coffer advises on sale of leisure units for £6.2m: Coffer Corporate Leisure has advised a private client on the investment sale of the commercial units of 38-42 Kingsway, in Central London. The properties are let to Paul UK and Bill’s Restaurants, who occupy the ground floor of 38 and the ground, basement and mezzanine of 42 respectively. They were sold on a long-leasehold basis for £6.2m, reflecting a net initial yield of 3.81%. Mark Sheehan, of Coffer Corporate Leisure, said: “This sale generated an unprecedented level of interest from a range of private and institutional investors. We received over a dozen very competitive offers and the process culminated in a competitive bidding scenario which resulted in a sharp yield being achieved. Through our expertise in the sector we were able to demonstrate to purchasers that, although evidence to support immediate rental growth is limited, the wider area has significant underlying growth prospects. The phenomenal rents being achieved in Covent Garden are pushing operators further afield and we believe this ripple effect will be felt in fringe locations such as Kingsway."
 
Richard and George Manners re-open Angelsea Arms: The Anglesea Arms, between Shepherd’s Bush and Hammersmith in West London,  has reopened under the new ownership of brother Richard and George Manners, who currently own and manage seven public houses across London including the Atlas in Fulham and the Swan in Chiswick. The Victorian public house has a drinking area with working fireplaces, an intimate dining room and outdoor terrace.
 
Motorway home to Costa and Burger King bought for £21m: Doncaster North Services at junction 5 of the M18, home to home to Costa Coffee and Burger King outlets, has changed hands in a deal worth £21m. CBRE Global Investors has bought the site for a separate account client from an offshore fund. The motorway service area is let to Moto Hospitality and has a guarantee from Compass Group, Moto's owner, for another 11 years. Rent is £1.4m a year. In addition to the retail offer, the service area includes a BP petrol station and a Travelodge hotel. It was built 14 years ago. Tim Munn, senior director at CBRE Global Investors, said: "With a long lease, let to an operator with the benefit of a strong guarantor and attractive annual RPI reviews we have secured an asset that complements our client’s portfolio well and meets their investment criteria."

Craft Beer Co launches competition to find UK’s best home-brewer: The craft beer pub operator Craft Beer Co is launching a new search to find the UK’s best home brewer. The winner gets the chance to brew their beer commercially with a leading UK microbrewer, as well as a £5,000 cash prize. The competition was launched in 2013, the crown is currently held by Andy Parker from Fleet in Hampshire, who blew the judges away last year with his American Red. Parker used the £5,000 prize to set up his own brewery. The Craft Beer Co's managing director, Martin Hayes, said: “There’s never been a better time to drink craft beer. There are so many great brewers producing such a diverse range of beers, it’s frankly amazing. People often overlook the fact that most of the well-known craft brewers started as enthusiastic home brewers. The winner will have their winning beer brewed commercially and will be available to the trade as well as being stocked across the Craft Beer Co estate. Our hope is that following the launch of their beer, the prize will act as seed funding for the winner's own commercial venture.”

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