Sales hold up at freehold auction

A Manchester auction last week saw six out of seven freehold pubs sold, including three out of four Robinsons Brewery outlets.

Five of the seven pubs sold for more than their guide price, although one had its guide price slashed to £50k — a fifth its original price.

The Pugh & Company sale saw the following Robinsons pubs find buyers: the Park Tavern, in Macclesfield, Cheshire, sold for £80,000, though the guide price was £100,000 to £120,000; the Anchor Hotel in Ulverston, Cumbria, sold prior to auction for £140,000, off a guide price of £110,000 to £130,000, while the Saracen's Head, in Denbigh, Clwyd, sold for £150,000 off a guide price of £100,000 to £120,000.

The Gardener's Arms, in Dukinfield, Cheshire, failed to reach its reserve price of £90,000 to £110,000. It is now available at £80,000.

Of the others, the Bay Horse Inn, in Winton, Cumbria, sold for just £61,000, despite an original guide price of £250,000 to £300,000. This was reduced to £50,000 just before the auction. Other venues included the Nags Head Inn, in Montgomery, Powys, which sold for £130,000 off a guide price of £125,000 to £150,000, and the Great Eastern, in Accrington, Lancashire, which sold for £65,000 off a reserve price of £30,000 to £50,000.

William Robinson, brewery director at Robinsons, said: "As part of an overall package, we are happy with the price achieved. We will come out with roughly what we were expecting."

Paul Thompson, auctioneer at Pugh & Company, said: "We sold 85% of stock and the room was heaving on the day. We sold six out of seven pubs, and in the current market that is good going."