Vacant pub in Portsmouth sold to new operator through Christie & Co
Specialist business property adviser Christie & Co has announced the sale of The Portland Arms, a vacant freehold pub in a residential area of Portsmouth.
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Occupying a prominent corner plot on the junction of Stamshaw Road and Weymouth Road, The Portland Arms comprises an indoor bar with space for live music/entertainment, a southeast-facing beer garden to the rear, and a three-bedroom apartment historically used as owners’ accommodation on the first floor.
Richard Wood, Regional Director at Christie & Co who handled the sale, said, “This property generated strong interest before culminating in a best final bids process, which saw us exceed the guide price. This illustrates the demand we are seeing across the south for pubs that offer scope to develop trade and can be bought without the need for bank debt.”
The property was sold at an undisclosed price.
For further information on this press release, contact:
Jasmine Davis, Corporate Communications Manager
P: +44 7561 115179
E: jasmine.davis@christie.com
Contact the agents:
Richard Wood, Regional Director – Pubs & Restaurants (South)
P: +44 7778 880 583
E: richard.wood@christie.com
Devan Wiltshire, Trainee Business Agent
P: +44 7561 115 176
E: devan.wiltshire@christie.com
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