Portobello Starboard adds Catford pub to estate

Portobello Starboard, the new acquisition platform backed by private equity firm Zetland Capital and operated by Portobello Brewery, has added to its growing estate with a new site in Catford, south east London, Propel has learned. The Mark Crowther-chaired Portobello business is understood to have acquired the freehold of the Catford Bridge Tavern, in a deal valued at circa £1.6m. The pub recently reopened takes Portobello’s estate to circa 25 sites. Last year, Portobello secured a £40m loan from OakNorth Bank to help expand its portfolio. The funds were to be used to support the acquisition of high-quality freehold pubs across London and the south of England. It included last spring’s acquisition of five pubs from City Pub Group for a total consideration of £16.2m.

James Grimes of AG&G acted on both the group deal and the recent Catford deal.