Member Article
Cairn Group acquires church-based cafe bar in York
Newcastle-based leisure operator Cairn Group has acquired a The Parish in York, a cafe and bar facility which occupies a grade II listed church.
The 11th century property, found on the corner of North Street and Micklegate, stood as an arts centre prior to its public house conversion.
The move, which will see all 17 staff retained at the venue, marks Cairn’s first standalone bar venture outside the North East.
Plans are in place to make a host of improvements to the bar over the coming months, funded from a £700k pot set aside for refurbishments to its growing portfolio of venues.
Cairn Group director Naveen Handa said: “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.
“The team on-site are all staying on and we’ll be introducing a training programme to formally bring them on board with Cairn Group. 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.”
Mincoffs Solicitors LLP and HSBC Bank plc supported Cairn Group on the acquisition of the business which marks the Group’s first acquisition following the £101m refinance deal completed earlier this year.
Cairn Group, a privately-owned business, laid out plans in May to put £50m 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.
John Nicholson, corporate partner at Mincoffs Solicitors said: “We have acted for Cairn Group for over 25 years. The Parish is a fantastic addition to the portfolio and we wish them well in their future plans with the venue.”
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