Tue, 16 Aug 2011 | BUSINESS SALE
Pub giant Admiral Taverns is selling off eight of its pubs in a deal worth more than £1.7 million.
The pubs, all of which are located in North Staffordshire, form a small part of Admiral's portfolio, which comprises 1,400 pubs across the country.
The pubs to be sold include; The Masons Arms and The Cross Guns in Northwood, The Jester in Fegg Hayes, The Thurston in Bentilee and The Lord John Russell in Hanley. All of the commercial premises are to be sold through specialist property agents Fleurets.
According to This is Staffordshire, some of the pubs – including The Thurston in Bentilee – have already closed their doors whilst others have reduced their opening hours.
The pubs range in price, with The Masons Arms in Northwood on the market for £175,000 plus VAT, which includes the freehold and all of the pub's contents.
Another pub included in the sale is The Saracens Head in Sandon Road, Meir, which has a price tag of £300,000 plus VAT.
Despite selling off eight of the pubs located in the North Staffordshire region, a spokesperson for Admiral Taverns confirmed that the group was committed to the region.
“From time to time Admiral Taverns reviews its pubs and these properties no longer fit its criteria for ownership,” the spokesperson said.
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