Dunedin Pub Company to cease trading

Dunedin Pub Company is to cease trading and has put its two freehold sites, the Flotterstone Inn and the Bridge Inn, near Edinburgh, on the market for £1.8m.

Charles Williamson, a director at Dunedin said the company had not achieved its expansion goals and so, after talks with its backer venture capital investors Albion Ventures, had decided to sell up. Albion put £2.5m into the business when it was founded in 2005.

Williamson said: "We set the business up in 2005 with the intention to acquire five or six quality pub/ restaurants in central Scotland. Unfortunatley after four years we have only been able to get up to the princely number of two. We decided with our investors that this was not enough progress and to pull out of the market.

"We have got to the point now where four years down the line, we have two very good assets. They are both iconic pubs and we believe there is an opportunity to sell up now there is optimism in the market."

Property agent Christie + Co, which is marketing the properties, has said the properties are available individually or as a package. The pubs will continue to trade as part of Dunedin until they are sold.

The Flotterstone Inn, which has an asking price of £800,000, sits at the foot of the Pentland Hills and includes a 50-cover restaurant and a detached three bedroom house. The Bridge is on the market for £975,000 and is situated next to the Union Canal, close to Edinburgh airport and includes the Pride of Belhaven, a luxury canal cruising restaurant barge.

Ken Sims, director at Christie + Co's Edinburgh office, said: "It is unusual and rare for two quality managed bar/restaurants to be available for sale and openly marketed on the outskirts of Edinburgh. These offer experienced operators excellent businesses, which have much greater growth potential."