TCG sells leasehold of Hull pub

Managed pub company the Tattershall Castle Group (TCG) has sold the leasehold of the Minerva Hotel in Hull for an undisclosed sum.

The lease on the pub has been taken on by local operator Phil Daly, who also runs the Legends Bar in the city. The three-storey pub, which has been closed for almost a year is currently undergoing renovation work. Local CAMRA members had campaigned for the Minerva to remain open and held a wake for the pub when it closed its doors in September 2008.

The nearby £100m Fruit Market redevelopment project, which will inlcude restaurants, shops, offices and housing, is expected to give the area a boost.

Christie + Co handled the sale. Martin Stansmore from the agent's Leeds office said: "The Minerva Hotel is a substantial property which was popular with local residents and workers. It attracted a significant amount of interest and a number of bids for the site were submitted.

"The pub is ideally located to take advantage of the ongoing redevelopment and regeneration that is taking place in the immediate area, offering a great opportunity for an incoming operator to establish a profitable and sustainable business."