Tue, 28 Feb 2023 | COMMERCIAL PROPERTY
The freehold interest in The Oxford Blue pub in Oxford has been put up for sale, with offers sought in excess of £1.23 million. The pub, located on Marston Street in East Oxford, is being marketed by Savills on behalf of a private client.
The business will be unaffected by the sale process, with the property currently let entirely to pub firm Wells & Co. The pub has been refurbished in recent years, with the kitchen and cellar having been moved to create a larger, open-space area in the main bar.
A spokesperson for Savills commented: "The property is arranged over three levels extending to approximately 3,150 sq ft (292 sq m) with the main trading area on the ground floor fitted out as a modern gastropub. The upper floors provide additional customer toilets, office and a three bedroom managers flat.”
"The property is let entirely to experienced pub operator Wells & Co (Charles Wells Limited) for an unexpired term of approximately 15 years at about £53,300 per annum, subject to an open market review on March 14 2023."
Stuart Stares, a director in Savills’ licensed leisure team, added: “Despite the wider economic backdrop we continue to receive good demand for high quality pub investments, particularly for rarely available properties that are let to national pub operators.”
Wells & Co, which also runs the Holly Bush pub on Oxford’s Osney Island, operates close to 200 pubs across England and France. The company has been in business since 1876 and, in addition to its estate of pubs, also operates the Brewpoint brewery in Bedford.
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