Charles Wells sells three pubs

19 October 2010 by
Charles Wells sells three pubs

Pub firm Charles Wells has sold three pubs for more than £450,000 through property agent Gerald Even.

The three pubs are: The Globe in St Neots, Huntingdon; The Cherry Tree in Kettering; and the Cuckoo in Wollaston, Wellingborough.

The Globe sold before it was due to go to auction with Cambridge-based auctioneer Cheffins for more than its guide price of £160,000-£180,000.

The Cherry Tree sold at auction to a private investor for £132,000 with a guide price on the day of £120,000 - £140,000.

And the Cuckoo also sold at auction for £142,000. It had a guide price of £140,000-£160,000. The buyer is understood to be a local family and it is thought they are likely to maintain the premises use as a pub.

Gerald Eve leisure partner Chris Ford, who is advising Charles Wells, said: "It is currently a difficult market for pub sales. To meet or exceed the guide prices is a very good result. It followed on from the strong interest created by attractive guide prices."

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By Neil Gerrard

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