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Downing completes £5.7 million exit from two Upham Group managed pubs
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Investment manager Downing LLP announced the successful exit from two freehold gastropub investments managed by Upham Group.
Both gastropubs – The Navigator in Swanwick and The Winning Post in Winkfield - have been acquired by Upham Group.
Downing first partnered with Upham Group in October 2015 and subsequently refurbished the gastropub locations, both of which also have letting rooms. Upham Group itself has 15 pubs located across Hampshire, Berkshire, Sussex and Wiltshire. Additionally, all of Upham’s pubs and inns feature a range of fine real ales brewed by Upham’s own brewery, also based in Hampshire.
Downing has developed deep sector knowledge of the licensed sector, with over £100 million currently invested in pub assets. It’s this track record that helped secure the exit deal with Upham, which also delivered a great outcome for Downing investors.
Steven Kenee, Investment Director at Downing, commented: “It has been excellent working with Upham over the past four years. The deep experience of the management team has helped drive the business to become the fastest growing pub company in the South of England.
“Despite the headwinds facing the high street, a strong operator such as Upham still presents an exciting opportunity for investors and I’m confident their unique pub locations will continue to thrive.”
David Butcher, Upham Group, added: “Working with Downing allowed us to release value in our estate and acquire further sites to aid our growth programme. They were quick to the mark and have been easy to deal with since.”
