Tue, 27 Sep 2011 | BUSINESS SALE
Brewing giant Greene King has acquired the Peter De Wint pub on Moorland Avenue, Lincolnshire, from Enterprise Inns.
The landmark pub - which has been closed since earlier this year following slow trading – is now to become part of Greene King’s portfolio of 1,600 pubs across the UK.
Its new owner is planning to ‘invest substantially’ in the site, and transform it into a family friendly venue, according to This is Lincolnshire.
Lucy Clegg, spokeswoman for Greene King, told the newspaper, “I can confirm Greene King has bought the Peter De Wint pub in Lincoln. We plan to invest substantially in the site to develop it in to a family-friendly pub, which will create up to 40 local jobs.”
Enterprise Inns is also selling another of its pubs, The Reindeer Hotel in Lincoln’s High Street, which has a price tag of around £235,000.
Stephen Bradford of Hodgson Elkington chartered surveyors, who are handling the transactions on behalf of Enterprise Inns, said, “[The Peter De Wint pub] is in a strong location and very well placed for serving the residents of the surrounding area and shoppers from the nearby retail areas.
“There was a lot of interest in it and strong competition to acquire it, just as there has been a lot of interest in the Reindeer Hotel. The Reindeer Hotel is offered for sale on an untied basis and may continue as a pub or restaurant or be redeveloped as an alternative venue. Either way, we are confident it will sell,” he added.
An established steel fabrication business in the East Midlands offers an attractive opportunity for those looking to enter or expand in the industry.
The business is well-established and offers its products and services across the region. The vendors now wish to retire, with the business representing an excellent acquisition for an existing operator within a similar sector or a new market entrant.
LEASEHOLD
This business provides comprehensive groundworks services to prestigious clients across the UK, offering a seamless turnkey solution.
Please choose your settings for this site below. For more information please read our Cookie Policy
These cookies are necessary for our website to function properly and provide you with access to all features.
These are analytics cookies that help us to improve the way our website works.
These are used to improve the functional performance of the website and make it easier for you to use.