More pubs go down the auction route
As the summer hots up so do auction sales, with 44 pubs set to go under the hammer in three sales at the start of July.
Auction: more pubs under the hammer
Allsop Commercial starts the process, with 20 pubs going to auction on 7 July at the Berkeley Hotel, London.
Duncan Moir, partner at the firm, was unable to reveal the identity of sellers, but said “they range from private investors to property companies and pubcos”. Punch has confirmed that it has in-cluded lots in this sale.
Guide prices range widely; from £160,000 for the Old House at Home, Stoke-on-Trent, to £1.55m for the Spinning Mule, Bolton, a Wetherspoon-tenanted venue.
Meanwhile, Enterprise Inns plans to sell off nine pubs at an Elliott Auctions sale on 8 July in Hatfield, Hertfordshire. An Enterprise spokeswoman said they were pubs that had been on the market “a while”.
Lots include the Bricklayers Arms, Bexleyheath, Kent, which has a guide price of £430,000, and the Cowshed in Ladbroke Grove, London, with a £750,000 guide price. Enterprise successfully sold five pubs with Elliott Auctions in April.
On 15 July, Charles Wells and Mentor Inns will send 15 pubs to auction with Colliers CRE at London’s Radisson SAS Portman Hotel. Mentor Inns will sell the freeholds of five venues, including the Quarryman’s Rest in Bampton, Tiverton, Devon, a pub and restaurant with a guide price of £800,000-£875,000. Charles Wells will send the freeholds of 10 vacant pubs, some of which are trading under a caretaker, to the auction. Guide prices range from £200,000-£300,000.
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