Former Farlane Property Group pubs to go under the hammer with Allsop

By Gurjit Degun

- Last updated on GMT

Related tags Guide price Local government act 1972

Up for grabs: the Black Diamond in Ince-in-Makerfield, Lancashire
Up for grabs: the Black Diamond in Ince-in-Makerfield, Lancashire
Eight pubs from former pub owner Farlane Property Group are set to go under the hammer at an Allsop auction next month.

Four of the freeholds are let on a temporary management agreement.

Farlane Property Group fell into administration in 2010 and had 43 pubs at the time. Pricewaterhouse Coopers was appointed joint administrators.

The auction will take place at Park Lane Hotel in central London on 19 March. Seven out of eight Farlane pubs were sold at auction last year.

The pubs on offer are:

■ The Albion in Plymouth, Devon. The property is let until 2031, with rent of £21,000. The guide price is £150,000 to £170,000.

■ The Black Diamond in Ince-in-Makerfield, Lancashire. The pub is let temporarily (rent of £5,200, guide price £70,000 to £80,000).

■ The Lord Napier in Rock Ferry, Wirral, Merseyside (rent of £20,000, guide price £100,000 to £120,000).

■ The Red Lion Inn in Wrexham, Clwyd. It is let temporarily (rent is £5,200, with a guide price of £70,000 to £80,000).

■ The Red Hackle in Jarrow, Tyne and Wear. The property is let until 2020 (rent is £26,000, guide price is £175,000 to £185,000).

■ The Lamb & Lion Inn, Hambridge, Somerset (guide price of £150,000 to £160,000).

■ The White Hart in Chudleigh, Devon. It is let temporarily (rent of £2,600, guide price of £90,000 to £100,000).

■ The Bay Horse in Garthorpe, North Lincolnshire. It is let temporarily (rent of £6,500, guide price of £100,000).

There are a further four pubs available at this auction:

■ Club Loco in Bolton, Greater Manchester, is leased to a limited company until 2017 (guide price of £125,000).

■ The Sovereign of the Seas in Petts Wood, Kent, is let to JD Wetherspoon (JDW) until 2034 (guide: £975,000 to £1m).

■ The Elihu Yale in Wrexham, Clwyd, is let to JDW until 2033 (guide: £1.1m).

■ The Pembroke in Coulsdon, Surrey, is let to Barracuda Pubs and Bars (now The Bramwell Pub Company) until 2033 (guide:  £675,000 to £700,000).

Related topics Property law