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

St Austell Brewery buys Devonshire pub

08 September 2008
St Austell Brewery buys Devonshire pub

St Austell brewery has bought the Castle Inn in Lydford, Devon, from struggling pub company Heavitree.

The purchase fee was undisclosed but the freehold for the inn had been on the market at £1.25m.

In July, Heavitree extended a review of its business and warned its half-year profits would be sharply lower.

Heavitree, like the majority of its peers, is struggling to combat falling sales as consumers reign in spending due to economic uncertainty and the burden of soaring food price and utility costs as well as increased taxation and legislation.

The Castle Inn is located on the western slopes of Dartmoor National Park and is reputedly haunted.

The deal was handled by property agent Christie & Co.

Beware the perils of the pub trade >>

Heavitree Brewery extends business review as profits tumble >>

JD Wetherspoon's profits suffer from ‘traumatic year' >>

Read more on food costs here >>

By Chris Druce

E-mail your comments to Chris Druce here.

The Caterer Blog](http://www.caterersearch.com/blogs/catering-news-blog/) Catch up with more news and gossip on the Caterer Blog here
[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