Mon, 03 Oct 2011 | BUSINESS SALE
Six pubs based in north London have been put onto the market by their owner, Prestige Group.
The pub company is selling off the commercial premises - which are a mix of both long lease and freehold sites - through leisure property specialists David Coffer Lyons.
Once the pubs are sold, Prestige Group will continue to operate a small selection of leasehold commercial sites plus a small management company, according to Caterer Search.
Amongst the six pubs up for sale include the Jewel, which is located near Hendon in NW9. The price tag for the freehold of this pub – the largest in Prestige's portfolio – is £1.6 million.
Other pubs to be sold include the Devonshire Castle near Holloway Road, which comes with the freehold title and vacant possession, along with planning permission to create nine new apartments on the site.
The Castle Bar on Camden Road is also for sale with leasehold interest at £1 million, whilst The King's Head located close to Hoxton in E2 has an asking price of £775,000.
Director of pubs at Davis Coffer Lyons, Paul Tallentyre, told Caterer Search, “Finding a good freehold property opportunity in London is one of the biggest challenges facing the market at the moment.
“It is therefore extremely rare and exciting for us to present several opportunities to the market at once,” he added.
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