Mercury Inns administrators sell four pubs for £5m

26 May 2010 by
Mercury Inns administrators sell four pubs for £5m

The administrators of Mercury Inns have raised around £5m after they sold four freehold properties.

Manchester-based brewer and pub firm JW Lees bought two of the sites - the Red Lion in Hawkshaw and the Walton Arms, Accrington.

Property agents Fleurets, which brokered the deals confirmed The Villa at Wrea Green near Kirkham had gone to a property company, while the Samuel Pepys in Kettering was purchased by a private operator.

Paul Newby, executive director at Fleurets who led the instruction with colleagues Andy Frisby and David Sutcliffe, said: "We initially took these units to market in December 2009 on a confidential basis, in order to protect the Christmas trade. In January we moved to open marketing and within three months, we'd agreed deals on all four units." Paul added: "The success of this project demonstrates that there's still a thirst in the market for good quality freeholds."

Multiple operator Mercury Inns went into administration in November last year after its bank refused to extend a loan to help it pay off a VAT and PAYE bill owed to HM Revenue and Customs. Mercury ran 10 high-quality dining pubs.

Leasehold pub market has been ‘decimated' in past year, says Fleurets >>

Scottish and Newcastle to sell 43 pubs >>

Scottish & Newcastle to lease 15 refurbished pubs >>

By Neil Gerrard

E-mail your comments to Neil Gerrard here.

If you have something to say on this story or anything else join the debate at Table Talk - Caterer's new networking forum. Go to jobs
Looking for a new job? Find your next pub job here with jobs

Blogs on]( Catch up with more news and gossip on all Caterer's blogs
[Newsletters For the latest hospitality news, sign up for our e-mail newsletters.
The Caterer Breakfast Briefing Email

Start the working day with The Caterer’s free breakfast briefing email

Sign Up and manage your preferences below

Check mark icon
Thank you

You have successfully signed up for the Caterer Breakfast Briefing Email and will hear from us soon!

Jacobs Media Group is honoured to be the recipient of the 2020 Queen's Award for Enterprise.

The highest official awards for UK businesses since being established by royal warrant in 1965. Read more.


Ad Blocker detected

We have noticed you are using an adblocker and – although we support freedom of choice – we would like to ask you to enable ads on our site. They are an important revenue source which supports free access of our website's content, especially during the COVID-19 crisis.

trade tracker pixel tracking