Newcastle hospitality firm The Inn Collection Group has snapped up a Yorkshire coaching inn as its ‘buy and build’ strategy continues.
The firm has announced a landmark deal to acquire popular Helmsley pub with rooms, The Black Swan.
The deal brings the group’s portfolio to 13, following its purchase of The Pheasant in Bassenthwaite Lake, Cumbria earlier this month.
The group remains on target to double its estate of freehold pubs to 20 within the next two years.
The Black Swan, in the heart of the market town of Helmsley, will continue trading as usual before the group begins a major redevelopment of the site, to bring it under its ‘eat, drink, sleep and explore’ pubs with rooms brand.
Inn Collection managing director Sean Donkin said: “We are absolutely thrilled to have added this superb venue to our collection. We’re looking forward to investing significant capital into realising the full potential of this phenomenal site for the community of Helmsley and visitors to Yorkshire alike to eat, drink, sleep and explore from.
“We have a proven track record in repurposing and enhancing historic inns and we’re looking forward to turning our attention to The Black Swan as we continue to widen our customer base, group presence and visibility across the north of England.”
The Black Swan is The Inn Collection Group’s second Yorkshire site, joining freehold pub with rooms, The King’s Head Inn in Newton under Roseberry, close to famous Teesside beauty spot, Roseberry Topping.
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Elsewhere, the group’s portfolio includes sites in Northumberland, County Durham, Sunderland and The Lake District.
The Alchemy-backed The Inn Collection Group - which is supported through banking by OakNorth - will continue to roll out its strategic buy and build expansion across the north of England.
The Inn Collection Group qA advised by Newcastle-based law firm Ward Hadaway on the transactions, with Jones Lang Lasalle on pre-acquisition diligence, alongside Clive Owen LLP and Bradley Hall.