Five pubs sold at Cardiff auction

Freeholds of eight of the 16 pubs put up for auction in Cardiff yesterday were sold before or during the auction.

All but one that was sold on the day went for less than its guide price at the Sidney Phillips auction in Coryton - one venue, the Gateway in Porth, went for £40,000 off a guide price of £60,000.

The other pubs sold on the day were: the George, Maindee - sold for £145,000, off a guide price of £160,000; the Kings Castle, Canton - sold for £165,000, off a guide price of £165,000; the Neville, Grangetown - sold for £230,000, off a guide price of £275,000.

The Tredegar Junction in Pontllanfraith, which had a guide price of £170,000, also sold on the day for an undisclosed sum.

Three pubs were sold before the auction for undisclosed amounts.

They were: the Coach, Bridgend (guide price of £160,000); the Lantern, Merthyr Tydfil (guide price of £85,000); the Old Brewery, St Athan (£150,000).

The pubs that did not sell before or during the auction were: the Admiral, Barry (guide price of £225,000); the Blaenogwr, Nantymoel (£100,000); Cow & Snuffers, Llandaff (£195,000); De Winton, Tonypandy (£100,000); Ivor Hael, Tonypandy (£125,000); New Brogden, Porthcawl (£160,000); Raffles, Pontypridd (£140,000); Rising Sun, Fochriw (£80,000); Tredegar Junction, Pontllanfraith (£170,000).

Sidney Phillips said it's currently in negotiations about five of the properties that did not sell.

Auctioneer John Williams that the results were "more or less what I expected".

"There was an excellent attendance and bids on most properties.

"Auctions of this nature crystalise peoples interest and over a week or two post auction lead to complete clearance of all lots."