A Hat trick for Punch Taverns
18 November 2009
Ryden’s Licensed & Leisure team has sealed three deals in quick succession for Punch Taverns.
In Kelso, a private individual has purchased the Cloisters Bar at 13 Bridge Street. The property, which is to remain a public house, was on the market at an asking price of £335,000. It comprises a bar, kitchen, cellar, storage and three-bedroom flat.
The Redstone Inn, 90 Main Road, Ayr was also sold to a private individual and will also continue to trade as a public house. The stand alone building consists of a bar, lounge and three-bedroom apartment. It was on the market at an asking price of £220,000.
In Livingston, the Lizzie Brice public house has been acquired by a small private company represented by N H Property Advisors and is to be converted into two retail units. The leasehold property was advertised at offers in the region of £50,000 and extends 324 sq m (3,488 sq ft).
Ryden has a further five public houses across the central belt and Aberdeen under offer and expects these to conclude soon.
Andy Macpherson, Licensed Trade consultant at Ryden commented: “In the last three months we have sold five public houses for Punch Taverns and this, in conjunction with the number under offer, is evidence that the market has become more active over the last quarter. We have also noticed a marked increase in the number of enquiries for the latest batch of properties that we have placed on the market”.
