MyNewPub The Smisby Arms, Smisby, Leicestershire Agent: GA-Select

Peter Riley and business partner Paul Aldred sold their Burton-based bingo business in March and planned to retire.

"Then eight months later we bought this pub, it's a great trade to work in," said Riley.

Riley, Aldred and Riley's son, Craig, his wife, Julie, and Riley's grand daughter, Jodie, are busy planning the next Christmas party, after completely revamping the menu.

"We have quite a few Christmas bookings, considering we've only been here since October. We have changed the menu completely and everything is home-made and cooked from fresh," said Riley.

Riley has spent 30 years in the trade and had his heart set on a freehold.

"There's no way I'm paying someone to go to work," said Riley.

Turnover at the pub was £280,000 per annum with a split of 40% dry to 60% wet. The business went completely non-smoking last Easter and trade has increased by 15%.

The property sold for a figure close to the £499,500 asking price and the family told GA-Select that they had increased trade by 50% already.

Riley and his family almost didn't get the pub. The property was under offer from one of the top two pubcos and solicitors formally instructed and contracts issued with a second contract issued to Riley. The contract race ended with Riley pipping the pubco to the post.