Freehold Pub Disposals

Sales on behalf of Enterprise Inns PLC continue

Roche Chartered Surveyors, acting for Enterprise Inns PLC, have recently sold two more pubs in Norwich, making it four pubs sold in recent months within the city. These pubs include the Duke of Norfolk on Mousehold Lane, the Bakers Arms on St Leonards Road, the Romany Beer House on Colman Road and James I on Drayton Road.

Roche are appointed to act for Enterprise Inns throughout the East Anglia region and have sold pubs in Cambridgeshire and Suffolk, whilst also currently offering for sale the Anson Arms in Great Yarmouth and the Dukes Head in Gorleston.

The majority of these sales have been to developers/investors who have been attracted by the opportunities for alternative uses afforded by the pubs, which usually occupy generously sized plots in prominent locations.

Graham Jones of Roche Chartered Surveyors stated that “the sales of these pubs and in particular those that have gone to developers, has shown that the market for freehold properties is still very much alive, especially for lot sizes of less than £500,000, where purchasers can fund the majority if not all of the purchase themselves. In difficult market conditions these pubs have sold relatively quickly, which demonstrates that there is still an appetite amongst developers and investors to put their money into sensibly priced property now, when market conditions are perceived as having bottomed out.”

For further information please contact Graham Jones at Roche Chartered Surveyors.

Date Added: September 14th 2009