Beehive fetches £3.2m
15 February 2001
Pub company Eldridge Pope is selling the Beehive in Poole, Dorest, to developers Emlore Homes and Flaremaster for £3.2m.
The sale is conditional on the granting of outline planning permission for housing development, which is expected to be decided by the summer.
Eldridge Pope will continue to operate the pub at least until the end of September.
The value of the pub in Eldridge Pope's accounts is £1.4m. In the year to 30 September it made profits of £186,000.
Chief executive Peter Phillipson said: "In the financial year to date our disposal programme has realised proceeds of £18.3m. The book value of the properties at 30 September 2000 was £15.5m.
"The proceeds will be used to continue to develop and acquire high-return, high-growth units."
