100 Admiral Taverns pubs hit the market
A tranche of 100 pubs, understood to belong to Admiral Taverns, has been put on to the market through property agent Paramount Investments — many at massively reduced prices.
The agent has also slashed prices on 130 other pubs on its books by as much as 50%.
Of the 100 new pubs came on to the market, 13 of them carry freehold price-tags of £115,000 or less — with one Caerffili (Caerphilly) pub on offer at a staggeringly low £50,000 (freehold).
They are located all over England and Wales. As well as some startlingly low-priced pubs, 11 on the list are for sale at £400,000 or more, including an Essex pub for sale at £525,000. Some of them are Grade II Listed local landmarks.
The list reveals a stark North-South divide — all of the 13 bargain basement pubs come from the north of England, or from Wales. Eight of the 11 higher-priced pubs come from London or the South East.
Paramount has also slashed prices on 130 pubs which had already been on its books — by as much as 50%. Two of these pubs carry a freehold price-tag of £55,000 or less — with one Oldham pub being offered for as little as £50,000.
Paramount managing director Mark Greig said: "There are some truly staggering bargains out there at the moment for the right kind of licensee or entrepreneur.
"We believe any businessperson would be mad not to take a close look at some of the deals on offer here."
He added: "We believe that with our UK network of contacts in a variety of business sectors, we can sell these pubs quickly at these prices."
He said he expected strong interest from the licensed trade or from alternative retail buyers, with community groups also likely to take a close look at some of the pubs on offer.
In the last month, Paramount has sold pubs to be converted into a coffee shop and a mosque. It continues to sell pubs at the rate of around five a week — or one per working day.
