DJ segues into sale of music pubs to Young’s

 

Click to follow
The Independent Online

The dance DJ Jon Carter was millions of pounds better off yesterday after selling his London live music pubs chain to Young’s in a £10.4m deal.

Carter, who was once married to the former Radio 1 DJ Sara Cox, co-founded 580 Limited in 2004 having previously co-owned The Lock Tavern in Camden.

Yesterday, 580 sold The Defector’s Weld in Shepherd’s Bush, John Salt in Islington, The Fellow in King’s Cross and The Owl & Pussycat in Shoreditch for £10.4m cash.

The first two pubs, which are large freeholds, will be brought under the Young’s pub banner, while the latter two will be brought into the Geronimo stable with its greater emphasis on good food and drink.

It is understood that Young’s beat off stiff competition from several rivals to buy the business from Carter and his other shareholders.

Stephen Goodyear, the chief executive of Young’s, said: “We are delighted to be adding these excellent pubs to our managed house estate. All four are in vibrant locations where our premium proposition of craft beers, high-quality wines and cocktails, restaurant-quality fresh and innovative food, and above all a warm welcome in well-presented surroundings will work extremely well.” He added that Young’s planned to “retain an element of the live music” at all four pubs.

The company has bought another four pubs, including Smithfield’s Fox and Anchor, in recent months.

Comments