It’s Journey Group’s end - but a new beginning for its properties

21 July 2009
Queen Victoria, Woolwich

Journey’s Limited and its associated companies have reached journey’s end in their current incarnation but their administrators are looking for a new life for their licensed properties.

On the instructions of A Stoneman & P Clark of MCR Joint Administrators and Receivers of Journey’s Limited and related entities, AG&G have been appointed as joint agent in the sale of a number of assets formally forming part of Journey’s Limited.

Among sites currently for sale via licensed leisure specialists AG&G is Journey’s London Eye, near Waterloo, London – a 120-bed hostel with associated lounge and bar. It is currently subject to a rolling franchise agreement and is trading well.

AG&G director Anthony Alder says, “Journey’s London Eye offers stylish, modern budget accommodation in an excellent location near to many of the capital’s major tourist destinations. With many holiday-makers trading down but still wanting to see the sights, it offers great value. And the free wi-fi actually works.”

The Mary Rose Hotel in St Mary’s Cray, between junctions three and four of the M25 near Orpington and Bromley in Kent, is a pub, restaurant and hotel with 110 beds and a large conference and banqueting space that can hold up to 225 people.

“This is a 16th century listed inn with a modern extension,” says Alder. “The pub is a pretty building right next to the River Cray and just 25 minutes from London Victoria, so it’s an excellent location for the budget-conscious business or leisure traveller. It has great potential.”

The Spinning Wheel Restaurant at Westerham, Biggin Hill, has fabulous views of the North Downs from its one-acre site. It currently trades as a large family pub, coffee shop and restaurant with a 200 covers, a children’s indoor playground and car park.

“The site includes a thatched, listed cottage and would make a wonderful family home,” says Alder. “Less than two years ago, it was bought for £1.2 million but now it is half that price at only £600,000.”

Other properties include:

  • The Wishing Well, a two-bar pub with 74 beds in an upmarket conservation area in Peckham
  • Juddy’s, an oast house-style pub in Chatham, with planning permission for 10 flats and offers expected over £225,000
  • Journeys Queen Victoria Inn near Woolwich DLR station, a 45-bed hostel overlooking the Thames Estuary that has potential for conversion into flats

For more information, contact Anthony Alder on 020 7836 7826, e-mail aalder@agg.uk.com or media@agg.uk.com.