Davis Coffer Lyons

Individual property investments

The Ivy

The Valuation Team provided valuation advice in order to facilitate bank debt on the freehold interest in this landmark restaurant. The interest valued was the freehold, subject to an occupational lease of the lower floors and a proposed new lease to a private members club operator on the upper parts.

Deal size - £15 million

Two North London Pubs

The Valuation Team provided valuation advice to a property developer purchasing two freehold pubs – his first leisure property investment. It was subject to the existing tied tenant in situ. They required advice on the valuation as existing and how best to manage the property with the tenant in terms of the trading tie and the pros and cons of releasing the trading tie. Advice was also provided on how best to redevelop the property by converting upper floors into residential flats but retaining the pub business.

Portfolio valuation

Acquisition of Lewis & Clarke Ltd by Balls Brothers Ltd

Balls Brothers, the well known City wine bar operator, identified the highly regarded Lewis & Clarke group of six high quality gastro bars in the City of London as a target for acquisition. They required advice as to how to approach the negotiations, structure the deal, and secure funding. Davis Coffer Lyons was duly instructed.

After two months of highly confidential negotiations, the deal was concluded at a price of £15 million. Davis Coffer Lyons liaised throughout with Balls Brothers, their funder, Barclays Bank, and the vendor.

Deal Size - £15 million.

London Town Plc

This business was formed in October 2006 and now owns a portfolio of nearly 250 tenanted and freehold properties throughout the UK. The Valuation Team provided strategic and valuation advice on a number of portfolio acquisitions including 167 acquired from Petchey Pubs.

Davis Coffer Lyons continues to seek further acquisition opportunities for London Town and provides comprehensive strategic support on estate management matters, rent reviews and estate development.

Deal Size - £170 million

Tattershall Castle Group Holdings Ltd

When Alchemy Partners Private Equity House acquired a large proportion of the former Spirit owned high street bar portfolio, Davis Coffer Lyons was on hand to provide independent valuation advice to their principal debt funders, Anglo Irish Bank.

Our advice included a comprehensive review of a selection of major freehold properties from Edinburgh to Newquay as well as a desktop review of the entire portfolio, totalling 200 units. We also provided supplementary advice on the proposed capex programme and disposal programmes.

Deal size - £200 million