Demand for good pubs not waning

One of the biggest deals has been the sale of the Pinnacles pub in Tonbridge, Kent, amidst strong interest, for an undisclosed figure in excess of the £1m guide price.

The freehold was marketed as an individual instruction on behalf of the Brakspear Pub Company and has been sold to a local consortium.

Matthew Smith, associate director of Christie's, said: "The level of interest was very heartening, considering the current economic climate, and demonstrates that there are still buyers out there keen to grasp the right opportunities."

Ye Olde Mitre Inn in High Barnet, London (the oldest pub still in use in Barnet) has also had its lease sold on through Christie's.

Stephen Jacobs of Christie's said: "We have sold the lease on behalf of Michael Ekberg of M&E Enterprises, a small, independent company founded in 2004."

Mr Ekberg purchased a brand new lease on the business from Punch Taverns through us in 2006 and has restored the property.

The residue of the lease was sold on his behalf to Gary Murphy, a first-time pub buyer who has given up his job as a civil servant to run the pub as a hands-on operator living above the pub.

Finally the agent has also sold on the lease of live music venue 3one7, in West Hampstead, North West London.

It is a second pub acquisition for Toby Mansurian, who also owns the lease of the Bullet Bar, a live music venue in nearby Camden Town.