Article DetailsStaffordshire company is buying up boarded up pubs and restoring them to life. |
| Date Added: April 22, 2009 04:26:44 PM |
| Author: Ian Brown |
| Category: Real Estate Press Releases |
| The company, Witherspoon Holdings , already has four pubs in the area and has just bought The Coach & Horses in Old Court Street, Tunstall.The pub had been closed for several months but is now trading again, focussing on community trade and real ale.Dax Robateux, Witherspoon’s regional manager, is based at another of the company’s pubs, The Smithfield Bar & Restaurant in Hanley.He said: “There are a lot of pubs out there which are now ridiculously cheap. We are looking closely at some of these pubs to see if we can start them trading again.“This may be very good news in communities which have lost their only pub.”Paramount Investments, the London-based agency which sold the pub to Witherspoon Holdings, said the company’s expansion might be a sign that pub prices have reached rock bottom.“We are delighted that the Coach and Horses has once again opened for business,” said managing director Mark Greig.“The fact that Witherspoon Holdings has recognised this is good news for the area’s other boarded up pubs, as others may now realise their potential.“We have been saying for some time that there are some terrific bargains out there. The Coach & Horses is in a good community area that can support a pub.”Sources at the company revealed that interest had been received from property developers.Paramount is also handling the sale of the King William IV in High Street, Talke Pitts and the Miners Arms in King Street, Fenton. In both cases, interest has been received from potential pub trade buyers, though negotiations continue. Paramount Investments are specialists in sourcing freehold and leasehold pubs for sale and other pub company or brewery investment opportunities in England, Scotland and Wales for potential property investors.
Paramount Investments 150 West End Lane Web: http://www.paramount-investments.co.uk |
