Clog and Billycock pub site sold to property investor

A much-loved food pub has been bought by a property investor for an undisclosed cash sum.

The Clog and Billycock in Pleasington has been sold to the Zedex Group, with founder and CEO, Ziafat Ali, promising to invest a further £10million in other projects across Lancashire.

The Zedex Group, which owns a portfolio of commercial and residential properties throughout the county, has purchased the land that is home to the Clog and Billycock, but has reassured customers that no changes will be made to the current running of the pub and restaurant.

The high-end pub chain Brunning and Price bought the gastropub business in 2018 along with several others from Ribble Valley Inns, the company connected to Lancashire celebrity chef Nigel Haworth and Michelin-starred restaurant Northcote in Langho.

Mr Ali said: “There was a lot of interest in this property, and we’re exceptionally pleased to have added it to Zedex’s growing portfolio.

“The restaurant is in a prime location and trades particularly well.

“The property was always going to attract a lot of interest and it was important that we were well prepared and primed to act decisively and quickly.”

A spokesperson for Brunning and Price said: “We’re pleased to say there will be no change to our lovely pub, which was invested in recently.

“This is merely a change in the freehold ownership of the building which we lease.”

East Lancashire law firm Forbes Solicitors advised on the purchase of the land.

Mr Ali said: “Forbes Solicitors provided timely legal expertise and an excellent knowledge of the local market.

“This was important in helping us move forward quickly, and with confidence, to secure the type of property we’re keen to invest more in, as we expand and diversify our property portfolio.”

The one-acre Clog and Billycock site becomes the first restaurant in Zedex Group’s portfolio, which also includes industrial, offices, retail and social housing assets.

Existing lease agreements for The Clog and Billycock will be honoured as part of the property purchase, with the restaurant’s trading unaffected by the change in the property’s ownership.

Mr Ali added: “This property purchase is representative of the types of investments that we’re looking at across the region.

“The popularity and success of the existing restaurant, business backed by a strong covenant and one of the most prestigious residential locations in Lancashire, make it an investment with sustainable long-term potential.

“Zedex Group has gone from strength-to-strength in recent years, and we’ll continue to enhance our resilience and performance by expanding the sectors and places in which we invest."

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