lease option The Ipswich office of agent Christie & Co, has sold the Daniels pub in Longhouse Road, Chadwell St Mary, near Grays, Essex, on behalf of Gerard Jacob to Beverley Ulmer. The leasehold property was sold for an undisclosed figure from a quoted asking price of £47,000 for the remaining nine years of the current 20-year, free-of-tie lease. The two-storey, detached property comprises lounge bar with adjoining games room, function room, trade kitchen, cellar and ancillary areas, four-bedroom owner's accommodation and car park. The pub is located in a densely-populated residential area and has a comprehensive local customer base. Its wider catchment area includes Grays and Tilbury, both within three miles. Turnover is mainly derived from "wet sales", as catering is presently limited to private functions, buffets and games evenings. Bill Colquhoun, from the Ipswich office of Christie & Co, said: "The market for leasehold public houses is currently very buoyant. "With a dearth of freehold freehouses available at present, the leasehold option is proving a very popular alternative.
