Paramount to sell 25 freehold pubs

Property agent Paramount Investments has put 25 freehouses, worth a total of £12.2m, up for sale.

Prices vary from £110,000 to £2m, with 10 pubs on the list worth £600,000 or more, and three are worth over £1m.

The pubs are distributed throughout England, including several in London, and all are owned by private individuals.

Paramount managing director Mark Greig said: "Part of the reason these pubs are so valuable is that in some cases they come with planning permission for redevelopment.

"While you are waiting for planning permission in the current market, values will probably fall. But if you buy a site with permission, you can get on with your projects straight away."

The three pubs selling at more than £1m each are The Golden Lion in Rotherhithe, South East London (£1.1m); The Shakespeare's Head in Percival Street in the City of London (£1.2m) and The Wagon & Horses in Hayes, Middlesex (£2m).

Permissions on some of the properties would allow new owners to start building rooms over the main pub to expand business through accommodation, added Greig.