Devon Town Centre Freehouse Sold To Local Investors.
Acting on behalf of Enterprise Inns plc, licensed property specialists, Stonesmith of Exeter have sold the freehold of The Cross Keys, Tiverton.
The Mid Devon town pub has had a recent chequered history and has been sold to local property investors R W Estates, who plan a mixed retail and residential development of the site.
The pub is a two storey property in Tiverton town centre, the property comprises trade areas on the ground floor and a 4 bedroom apartment on the first floor. To the rear of the pub are a range of outbuildings which also offer alternative use potential.
Mike Phillips, of selling agents Stonesmith commented “Our marketing of the Cross Keys attracted several offers from local developers and operators which resulted in a sale being agreed within two weeks of instruction. The sale confirms that the market remains active for closed freehold pubs which offer alternative use potential.”
Stonesmith sold The Cross Keys off a guide price of £175,000