Local buyer for Paignton inn

The leasehold on the Lime Tree, a popular inn close to the town centre of the busy South Devon resort of Paignton, has been sold to local businessman Alan Grant.

The community-focused, wet-led pub sits on the Dartmouth Road behind one of resort's main thoroughfares.

It offers a large, open-plan character bar that can seat up to 100 customers and includes a servery, a stage for live bands and entertainers, a pool table and a darts board.

Facilities also include a function room and extensive first-floor, six-bedroom private accommodation that could be converted to letting rooms.

The pub achieved sales of £420,000 (excluding VAT) in the year to October 2007.

Bettesworths of Torquay sold the Scottish & Newcastle three-year rolling lease/franchise off an asking price of £89,950 with annual rent of £46,000. They acted on behalf of previous leaseholders Terry and Christine McCartney.

By Angela Frewin