FHP SELL THE CROWN PUBLIC HOUSE IN ROLLESTON

Leisure News

The Retail & Leisure Department of FHP have completed the sale of The Crown at Rolleston, near Newark.

The pub/restaurant, which also includes 8 letting bedrooms, has been sold to a local investor at a price of £270,000.

David Hargreaves who handled the sale said:  “The pub sector has been struggling for a number of years with 25 public houses closing down every week and prices falling across the country, so we were, therefore, delighted to achieve a relatively early sale of this property to a local investor who has subsequently agreed a new lease with the existing tenant.

The residents of Rolleston will continue to have their local pub/restaurant, whilst our clients are pleased with the sale and price agreed.”

Hargreaves said: “Factors such as the trend towards drinking at home and the general reduction in consumers’ disposable income are impacting on this sector.  However, if a public house is well located, well run and offers something extra such as food, the outlook is relatively positive.”

The purchaser subsequently instructed FHP to negotiate the new lease which has now been completed for a term of 10 years at a rising rent averaging at £22,500 per annum.