Greene King buys Whitbread freehold

Greene King has bought the freehold of the Ashley Hotel in Worksop, Nottinghamshire from Whitbread for an undisclosed sum.

The Ashley Hotel is a substantial detached property comprising a 32-cover public bar, a circa 140-cover dining room, and two good sized manager's flats.

The site, which traded as a Brewers Fayre, also includes extensive car parking and a separate detached, single-storey building to the rear.

Greene King has since refurbished the property and reopened it under its Hungry Horse brand.

The Ashley Hotel is the third pub restaurant Christie + Co and Gerald Eve, acting as joint agents, have sold for Whitbread since the last quarter of 2009.

The Nevill Crest & Gun in Kent was acquired by Brunning & Price, whilst the Greaves Park in Lancashire was purchased by the Chameleon Pub Company.

"This sale reflects Whitbread's long-term strategy to operate pub restaurants with a Premier Inn alongside where we can capture the benefits of both brands," said Simon Hobbs, head of asset management at Whitbread.

"The Ashley Hotel did not support our criteria for Premier Inn and as a consequence we decided to dispose of the asset."

Noel Moffitt, director at Christie + Co, added: "Well-located, substantial managed houses, such as the Ashley Hotel, continue to attractive significant levels of interest from national and regional operators.

"We are delighted to have been able to aid Whitbread with this disposal in what continues to be a challenging market. "