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Local buyer for Exeter wet-led pub

20 February 2009 by
Local buyer for Exeter wet-led pub

Exeter's Globe Inn has been sold to local first-time buyer Karen Harmer, who has previous experience of working in pubs.

The three-storey, end-of-terrace property is located in Newtown, a residential area that is half a mile from the centre of Exeter and the new Princesshay shopping and leisure complex.

On the ground floor, it offers a main bar and lounge/snug bar that can seat an overall 30 customers, along with a pool room.

The first-floor music/function room with bar can cater for up to 120 people.

Accommodation includes a first-floor, one-bedroom flatlet and three-bedroom facilities on the second floor.

Outside is a small trade patio and small car park.

The business made 95% of its £200,000 2007 turnover from drink, but Harmer intends to increase food sales and promote the function side of the business. She also plans to hold regular discos and karaoke, bingo and quiz nights.

Stonesmith of Exeter sold the old Laurel leasehold (now owned by Enterprise Inns) for £30,000 off a guide price of £45,000 on behalf of Angela Tate and Ian Emby. Annual rent is currently £37,000.

By Angela Frewin

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