Brewer and pub operator Shepherd Neame has expanded its estate with the acquisition of Bournemouth seaside bar and restaurant Urban Reef.
Located next to the beach on Boscombe Promenade, Urban Reef opened in 2009. It is a two-storey venue comprising a bar, café, deli and restaurant, featuring panoramic views of Bournemouth Bay.
Urban Reef is Shepherd Neame’s first site in Bournemouth and takes its total of pubs and hotels to 300 across Kent, London and the south east.
“This acquisition follows the strong company performance revealed in our latest trading update at the end of June,” says Jonathon Swaine, Shepherd Neame’s newly appointed managing director of pubs. “We are now actively looking for opportunities to grow and develop our high quality estate and are delighted to have acquired Urban Reef, a unique offering in a unique beachfront location.
“Our coastal pubs and hotels have seen particularly encouraging sales during the past year, and we are confident that with its fantastic reputation and loyal customer base, the addition of Urban Reef to our portfolio will allow us to accelerate that growth.”
The site was sold by founder Mark Cribb, who also owns the Urban Guild, the Urban Beach hotel and Urban Garden bar and restaurant in Bournemouth.
