Freehold market remains strong

The quick sale of a Shropshire pub is evidence the freehold market is remaining strong, an agent has claimed.

Peter Brunt, a director at Colliers Robert Barry, which handled the sale of the Wenlock Edge Inn, near Much Wenlock, said: "The market continues to be strong for freehold pubs and the sale of the Wenlock Edge was agreed only about six weeks after launching the property on to the market."

Agents have continued to maintain the freehold market is standing up despite the tough economic conditions.

However some are reporting the leasehold market has gone dead.

The Wenlock Edge was bought off an asking price of £550,000, by G&T Leisure - the company's seventh outlet.

Graham Andrews, of G&T Leisure, said the 18th century building will be redecorated and be run by chef Paul Ryder and his wife Emma, who gained 2AA Rosettes at a previous outlet.

"In time, we plan to rebuild the function room and one of the fun things we plan is to have bikes available for hire so that visitors can work up an appetite for Paul's superb food on the trails in the area, we can even welcome horse riders who can tether up on the paddock opposite," he said.

The company bought the pub because it is well known in the area and accessible for visitors, Andrews said.

The pub is in an area of outstanding natural beauty and boasts a main bar, lounge bar, 24-cover dining room and conservatory. It also features six en-suite letting rooms and one-bedroom owner's accommodation.