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News Release

Leeds

Five Northern Pubs Up For Auction by Jones Lang LaSalle


Leeds, 29th September 2011-  Five northern public houses are being offered for sale by auction by property consultants Jones Lang LaSalle next month (Oct).

The five freehold pubs in South Yorkshire, north Nottinghamshire and north Derbyshire are set to be auctioned individually by Jones Lang LaSalle auctioneers at The Meridian Hotel, Piccadilly, on Thursday October 6.
The public houses, three of which are tenanted while two are vacant, are being sold by Jones Lang LaSalle on behalf of UK pub group, Scottish & Newcastle plc.

They are: The Druids Arms, Bentley, Doncaster, which is tenanted and has three-bedroom manager’s accommodation and attracts a rent of £9,000 a year; The Harlequin, Thorn, Doncaster, which has vacant possession and attracts a £1,201 annual rent;  Nags Head, Chesterfield, which has a tenant in place; Sportsman Inn, Chesterfield, which is tenanted and attracts an annual rent of £10,000 and The New Inn, Retford, which will be offered with vacant possession.

An associate director in Jones Lang LaSalle’s Leeds Licensed Leisure and Hotels team, Alastair Jack, said: “The asking prices for these five popular pubs, which are all in residential areas with their own catchment clientele, have been reduced and we are expecting significant interest from local investors.

“At a time of many changes in the jobs market where more people are looking to become self employed, they offer a low-cost entry to the licensed trade. All are in good locations, some fronting main roads and others with outbuildings, yards and beer gardens. We also expect significant interest from developers who can see the value in the offer and the potential for alternative uses.”