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Walton pub to remain open despite sale of freehold
12:00pm Saturday 2nd February 2013 in Clacton and Frinton News
PINTS will continue to be pulled at a popular Walton pub, despite the freehold being put up for sale.
The freehold of the Royal Albion, in The Parade, has been put up for sale by Christie and Co on behalf of administrators Grant Thornton UK.
It is one of 20 pubs across the country, worth a total of £6.25million, that have now been put on the market.
The London-based Pubs ‘n’ Bars group went into administration three years ago.
Pub landlord Andrew Raymond said: “It is only the freehold that is up for sale, so for us it is business as usual. We have got 15 years left to go on a secure lease.
“We rented the pub privately from Pubs ‘n’ Bars and are not part of their group. I am a private tenant.”
The Pubs ‘n’ Bars portfolio also includes The Ship in Tiptree.
John Grace, associate director of Christie and Co, said: “The pubs are in good locations with the potential for excellent trading.
“Over the last year or so, we’ve seen a number of experienced operators return to the pub sector with acquisitions, as well as the rise of local and regional entrepreneurs.
“These pubs are certain to arouse the interest of both experienced investors and those seeking to gain a foothold in the sector.”