Honeycombe Leisure has sold its pub investment vehicle Nectar for £1m.
The new owner, a property investment company, will retain Honeycombe to manage the 29-strong unbranded estate in the North-west of England and Wales.
Over the past three years of its deal with Nectar, Honeycombe has received £2.3m in fees and options.
Sandy Anderson, chief executive of Honeycombe, said: “I am delighted with this excellent outcome. Not only has the sale of Nectar been concluded, but the new owner has retained Honeycombe on a long-term basis.”
In a similar move earlier this year, the company sold its Ma Hubbards restaurants to newly created Ma Hubbards Ltd, retaining the management contract as part of a planned £9m expansion of the chain.
By Chris Druce
Honeycombe finds high street tough but management contracts profitable >>
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