Exclusive: Former GK finance director looks for tenant

By The PMA Team

- Last updated on GMT

Related tags: Bury st edmunds

Greene King's former director looking for tenants
Greene King's former director looking for tenants
Former Greene King finance director Michael Shallow is looking for a tenant for his brewery and bar business in Bury St Edmunds. Shallow and his wife...

Former Greene King finance director Michael Shallow is looking for a tenant for his brewery and bar business in Bury St Edmunds. Shallow and his wife Judith are looking for tenants to run the Old Cannon Brewery, in Bury St Edmunds.

They will continue to own the freehold on the business, in Cannon Street, but the move will give them to focus on their other commitments. It's on the market for a £75,000 premium and a rent of £45,000 per annum — turnover was £508,405 excluding VAT in the year to 29 October 2009.

Judith Shallow tells a local newspaper: "We've had the business for four years. "During that time we've invested in every aspect of it from the brewery to the bed and breakfast rooms.

"It's doing really well in difficult times. What it really needs is for people to manage it full time, hands on which, because of our other business interests, we're not able to do.

"We've been involved in the management but not on a day to day basis.

"It's about finding the right people who can take the business on and lead it into a new decade."

Michael Shallow currently serves as a director of Britvic and Domino's Pizza. The business is made up of a brewery, bar, brasserie and seven en-suite bedrooms.

Following a conversion of the old brewhouse to bed and breakfast accommodation, the pub re-opened as the Old Cannon Brewery in 1999.

Judith added: "There are two new bed and breakfast rooms. We've also extended the kitchen and refurbished the brewery cellar.

"The business is in great shape for someone who has some passion and commitment to take it on."

The sale of the lease is being handled by Christie and Co in Ipswich.

Related topics: Professional Services & Utilities

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