Specialist licenced business adviser, Sidney Phillips has completed on the sale of the Spread Eagle, a family friendly pub in the popular residential area of Hawkenbury in Tunbridge Wells, Kent, to experienced local operators.
The Spread Eagle is a prominent public house located close to the crematorium and cricket ground, benefitting from local trade and lots of passing trade. The property houses two trade areas capable of providing seating for 71 as well as a spacious three bedroom owners accommodation.
Held on a 25 year fully repairing and insuring lease from EI Group, free of tie on wine, spirits, minerals, bottled beer and cider, the pub has been taken over by a successful local operator, who also owns another EI Group lease in the town.
Robert Cockayne, Regional Valuations Manager for the London & South East handled the sale and comments, “The sale of the Spread Eagle demonstrates that despite the current economic uncertainty, operators with a keen eye for sites with great potential continue to invest in the sector.”
Sidney Phillips sold the Leasehold interest off an asking price of £44,950.