There is still plenty of activity in the high-street leaseho

The agent says that contrary to media reports of doom and gloom and despite recent profit warnings and some high-profile failures from the high-street branded operators, there are still buyers for well-located properties in town centres, and premium prices are also being achieved. Christie & Co, acting on the instructions of the Noble House Pub Co, among others, has recently sold a number of leasehold bars and restaurants for six-figure sums. Former Rat & Parrot bars ­ the Harlequin in Watford High Street, the Foyer in Huddersfield and the Round in Swindon ­ have all changed hands The Harlequin and the Round have both been sold to Inventive Leisure/Revolution Bars. The Harlequin's lease, with just over 20 years unexpired, at a current rent of £119,000 per annum (subject to review in 2004) was sold for a premium in excess of £200,000. The Round changed hands at a premium in excess of £100,000. The lease has nearly 25 years unexpired and the rent is £110,000 per annum, with a rent review outstanding. The Foyer, which had been sold to Noble House as part of a package of 214 pubs and restaurants, has been sold to Brook Leisure, following intense bidding from two rival late-night bar operators. The lease has 20 years unexpired at a rent of £98,000 per annum with a review due later this year. Again, a premium well in excess of £200,000 was achieved. Bar 54 in Mount Pleasant, Tunbridge Wells, Kent, which formerly traded as a Bar Coast, has been sold on behalf of the Voyager Pub Group to Ascot Inns and has already been refurbished and re-branded in its "A Bar 2 Far" café-bar concept. Offers in the region of £100,000 were sought for the leasehold. The rent was £86,000 per annum. The Dome Café Bar in Kensington High Street, west London, sold on behalf of Laurel Pub Company to Presso Plc off an asking price of £225,000 with a rent of £52,000 per annum for the remainder of a 20-year lease from 1987. Old Orleans in Grindlay Street, Edinburgh, was sold on behalf of Scottish & Newcastle Retail to a local Chinese buffet operator for in excess of £200,000, with a rent of £80,000 per annum for the remainder of a 25-year lease from 1990. Christie's Ian Garrood said: "There are a number of operators still actively acquiring in the high street, although it is fair to say they are being very selective. "Provided vendors are realistic on their price expectations, purchasers are still prepared to pay premiums for well-located units, which may be converted to their own particular trading style for considerably less than it would cost to fit out a shell unit.