The Red Lion, a community local and destination food-led pub situated in the village of Digby in Lincolnshire, has been sold through leisure and hospitality property specialist Sidney Phillips.
The Red Lion, which dates back to the early 1600’s occupies a characterful two-storey detached brick building with feature stone front elevations and benefits from being situated in a prominent position adjacent to the renowned Digby Cross in the centre of the village.
The business is well established and boasts a 5-star hygiene rating as well as the major accolade of being ‘The Taste Of Excellence’ Lincolnshire pub of the year 2017 and Select Lincolnshire pub of the year for 2018 and 2019.
Positively reviewed by both the local community and a variety of websites including TripAdvisor, the CAMRA Good Pub Guide and WhatPub.com, this successful business has a core community patronage of local residents and Royal Air Force employees from the nearby camps, as well as destination diners.
Zaine Lamont, Regional Valuations Manager for the Eastern Counties handled the sale and comments, “I am delighted to find a buyer for the Red Lion, especially considering it had been unsuccessfully listed by a number of agents beforehand. This sale showcases how important our unrivalled marketing is in finding purchasers, especially in today’s challenging market. I want to wish the incoming landlady Leza all the best for the future, and to congratulate Ange on all her hard work in creating such a successful business to pass on”.
The seller, Angela Robinson commented “I’ve had an incredible 10 plus years at the Red Lion and I’d like to thank all of our loyal customers for their amazing support. I’d also like to say a big thank you to the team at Sidney Phillips for their proactive work during the sales process. I would certainly recommend their services to anyone looking to sell their public house”.
The freehold interest of the Red Lion was purchased by The Hummingbird Pub Company based out of Scarborough. With decades of experience in the hospitality industry they are looking to operate the business in the same style as the previous ownership.
Sidney Phillips sold the Red Lion off at freehold asking price of £350,000. Finance was sourced by the Sidney Phillips Business Mortgages.
For more information on buying, selling or re-mortgaging your hospitality property, please call Sidney Phillips on 01522 500059 or email East@sidneyphillips.co.uk.
(November 2022)