Eight pubs sold at HEB auction

Eight pubs have been sold on or before a Nottingham auction organised by property agent HEB for £1.1m in total.

The three pubs sold on the day were: the Fox & Hounds, Trugby (sold for £245,000 off a guide price of £285,000); the Marketside, Sneinton (£180,000, guide price of £265,000) and the Yew Tree, Hucknal (£120,000, guide price of £250,000).

Selling prices and guide prices of the pubs sold before the auction have not been revealed.

The pubs were: the Victoria, Longeaton; the New Inn, Chesterfield; the Commercial Inn, Pilsley; the Great Northern, Shirebrook; the Victoria, Chesterfield

"The auction bucked the national trend, achieving best total number of sold lots," said HEB partner and auctioneer Matt Hilton.

"Many auction houses around the UK are finding that their sales are achieving fewer transactions than they were a year ago, but our October auction was our best ever."

"Some auction houses say that after the initial flurry of auction activity in the height of the downturn, that sales are now in decline — but at HEB, we have found that the reverse is true.

"We had a good mix of property available at this auction — retail, commercial, public houses and residential — and we saw swift bidding on the day."

The next HEB auction will take place on 14 December at Nottingham Belfry Hotel, Mellors Way, Nottingham, at 2.30pm.