Ryden makes it a double for Punch...with another round on its way
21 September 2009
Acting on behalf of Punch Taverns, Ryden has sold two former public houses known as Bar 53 East Main Street, Broxburn, West Lothian and The Maulsford Inn, Maulsford Avenue, Danderhall, Midlothian.
Bar 53, which was on the market at an asking price of £170,000, is a modern open plan bar with two bedroom accommodation on the 1st floor. The Maulsford Inn with lounge, public bar, large kitchen and domestic flat with 3 double bedrooms, on a site of 0.56 acres, was being marketed at an asking price of £300,000.
Both properties were acquired by private individuals on an unconditional basis and will be converted into restaurants.
Alan Herriot, Associate at Ryden, comments: “We have a number of Punch Tavern public houses on the market at present and we are receiving a good level of enquiries for them. The majority can continue as public houses or are suitable for alternative uses.”
He added: “In addition to securing these sales, there’s some extra cheer in the fact that a further seven are in legals and that Punch Taverns has just appointed us to market a further ten across the Central Belt.”
Andy Macpherson, Licensed trade Consultant at Ryden, said: “The level of interest has increased markedly over the past 2-3 months, and the fact that we now have a good number of properties under offer or sold is an encouraging indicator that the market is improving and that well funded purchasers are now becoming more active.”
Neil Findlay of Punch Taverns said: “These sales demonstrate that there is a strong level of interest for these pubs from a wide variety of buyers. We are pleased with Ryden’s success thus far and look forward to completing many more sales with Ryden.”
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