Twelve months on, and specialist business property adviser Christie & Co has brokered the new partnership and sale of The Plough to a new Chinese investor, SinoFortone Investment, which was attracted to the pub following the President’s visit.
Situated in the small hamlet of Cadsden, north west of the market town of Princes Risborough, the Plough is the nearest pub to Chequers, the Prime Minister’s country residence.
The deal was a true Christie Group effort, with the deal brokered through the Christie & Co London and Asia teams.
Neil Morgan, Managing Director – Pubs & Restaurants brokered the sale of the pub in conjunction with Christie & Co’s Head of Asia Dr Joanne Jia. He said, “We are really pleased to have completed the sale of The Plough to SinoFortone Investment.
“The pub became famous in Chinese circles following the visit of President Xi Jinping, and it has become quite a tourist attraction for Chinese visitors since, who are keen to sample the classic British food and beer that the President tried.
“The Chinese market has huge potential and many opportunities, so it is one that we will see more activity in over the coming months and years. Asian investors are becoming more interested in UK markets, particularly hotels, licensed and leisure and we are seeing more and more Chinese investors in particular coming to us showing an interest both in British hospitality and leisure opportunities, and also in taking classic British themes to China.”
Dr. Peter Zhang, Managing Director of SinoFortone Investment added, “We are so excited about this new strategic partnership and adventure, the English pub concept is growing very fast in China, and it's the best way culturally to link people from different countries and build friendships.
“We see bigger opportunities, namely countries lying between China and Europe in where we believe we could also export the UK brand internationally.”
SinoFortone Investment is a Group company that mainly invests in Infrastructure, Energy, Education, Food and Beverage businesses.