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Sidney Phillips sells freehold pubs at auction

Start a new threadBy Gurjit Degun , 11-Dec-2012

Related topics: Property News

Six of the 12 freehold pubs that went under the hammer at a Sidney Phillips auction have sold, with three selling prior to the event.

Auction: six of the 12 pubs put up for auction by Sidney Phillips sold

Auction: six of the 12 pubs put up for auction by Sidney Phillips sold

The pubs had guide prices ranging from £75,000 to £195,000. The 12 up for auction were from pubcos, brewers, private individuals and mortgagees.

The pubs that sold at the auction were:

■ The Llanina Arms in Llanarth, Ceredigion, for £175,000. It had a guide price of £195,000.

■ The Royal Hotel in Treharris near Merthyr Tydfil, south Wales, for £100,000. It had a guide price of £125,000.

■ The Coity Castle in Bridgend, Mid Glamorgan, south Wales, for £130,000. It had a guide price of £160,000.

The pubs that sold prior to the event were:

■ The Four Bells in St Athan, Vale of Glamorgan, south Wales. It had a guide price of £175,000.

■ Fusion in Gloucester. The guide price was £195,000.

■ The Gwyn Arms, located in Alltwen, Swansea Valley, south Wales. It had a guide price of £75,000.

Sidney Phillips managing director Robin Mence said: “Selling 50% of the pubs that were put to auction is very good, especially before Christmas. We hope to sell a few more in the next week.

“Selling three pubs before the auction is less than usual, but we did have a shorter lead time.”

Meanwhile, at an auction held by Allsop, three pubs sold out of the six for sale.

The properties that sold were the Wyndham Arms in Merthyr Tydfil, which matched its guide price of £100,000; a former nightclub/bar also in Merthyr Tydfil for £40,000 (it had a guide price of £30,000 to £50,000); and the Liquid and Diva nightclub in Gloucester sold prior to the event.

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