M&B sells two pubs for £1.7m
Ember Inns and Harvester operator Mitchells & Butlers has sold two food-led, freehold pubs near Perth and Preston for approximately £1.7m.
The Wheel Inn in Perth was sold in excess of its guide price of £900,000 to Scottish family owned operator Maclay Inns, while the Boar's Head in Preston sold its freehold for in excess of its guide price of £750,000.
The Boar's Head was sold to North West-based family-owned pub company, Mitchells of Lancaster, which operates seven hotels and 55 traditional inns in North Lancashire and Cheshire.
The Wheel Inn is a family pub restaurant with a 200-cover bar and restaurant while the Boars Head is a food-led pub business catering for over 130 covers across its split-level trading area.
Christie & Co handled the sale of the two pubs. Its director of corporate pubs Simon Chaplin, said: "The pubs are the first individual disposals we have handled on behalf of Mitchells & Butlers.
"The instruction came as a result of our continued involvement in marketing the leases on seventeen established pub businesses on behalf of the pub group, as part of its Mitchells & Butlers Business Franchise Lease."
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By Christopher Walton
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