Press Releases
Christie Finance funds purchase of Pontypool pub
Christie Finance, mortgage brokers for the licensed trade, has provided the finance for a new owner, Mrs Susan Wait, to purchase The Labour in Vain public house in the High Street of Tranch, near Pontypool, Torfaen.
Sue Wait previously ran the pub on a short-term tenancy agreement with Admiral Taverns and jumped at the chance to purchase the freehold.
The Labour in Vain was among more than 60 surplus units which leading pub agent, Christie + Co, was instructed to market last year on behalf of Admiral Taverns Ltd - one of the fastest growing pub companies in the UK - as part of the ongoing rationalisation of its national estate. The sale of the Labour in Vain was handled by the Bristol office of Christie + Co, which is a sister company to Christie First.
The Labour in Vain is a substantial period property located just off the A4043 in a residential area just north of Pontypool town centre. The property comprises a main bar with games area, a separate lounge bar, three-bedroom owner’s accommodation and a large beer garden to the rear.
Evan Morgan, mortgage broker of the Bristol office of Christie First comments: “We were delighted to secure competitive finance so that Sue Wait could purchase the freehold of the Labour in Vain. Being already experienced at running this pub, Sue was the ideal candidate to become its new owner. She is a key member of the local community and has already begun a complete refurbishment programme and has started football, pool, darts teams as well as introducing live entertainment in the evenings. The Labour in Vain will continue to trade as a friendly, traditional pub with a strong community focus.”
The freehold interest in the Labour in Vain was sold for an undisclosed figure, from an asking price of £200,000.
For further information please contact Evan Morgan in the Bristol office of Christie First on 0117 946 8500 or evan.morgan @christiefirst.com
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