A hotel and bar operator based in the North East has announced that it has successfully acquired the popular York café bar, ‘The Parish’.
The venue operates from an 11th century site on the corner of North Street and Micklegate, York, with all 17 staff set to be retained.
Cairn Group, based in Newcastle, is planning to breathe new life into the York bar with a series of improvements over the next few months which will be funded by a £700,000 pot set aside for refurbishments to its growing portfolio of venues.
The property currently occupies a grade II listed church development which, before its conversion to a public house, was previously an arts centre.
This acquisition also marks the new owners’ first standalone bar venue away from their home region. Director of the Cairn Group, Naveen Handa, commented: “We’re really excited to have secured this opportunity in York – a city I’m both personally fond of and have admired as a business destination for some time.
“The Parish is a truly stunning building with huge potential and our location is ideal for passing footfall.”
Handa insisted that the on-site team will stay on working at the venue, while they will also be introducing a training scheme which will formally bring them on board with the group.
She added: “The bar will no doubt be a great asset for us and we’re looking forward to getting involved in York’s vibrant leisure scene.”
HSBC Bank plc and Mincoffs Solicitors LLP supported Cairn Group on the acquisition of the business which marks the Group’s first acquisition after the completion of their £101 million refinance deal which was sealed earlier in the year.
Cairn Group is a privately owned firm which, in May, outline plans to inject £50 million of the funds raised from the refinance towards an acquisition-focused growth and strengthening of its UK-wide portfolio, which already includes 26 hotels and more than 30 bars and restaurants.