Press Releases
New Forest pub, The Croft Tavern in Hythe, is leased to its existing managers
A brand new lease on The Croft Tavern, a popular dining pub in the sought after location of Hythe, on the edge of the New Forest, Hampshire, has been sold to the existing managers of the pub, Jeff and Suzanne Hatton.
The funding for the letting was arranged by Christie Finance and the sale was handled by leading pub agents, Christie + Co, via their Winchester office.
The Croft Tavern was part of the Spirit Group, which was acquired by Punch Taverns in December 2005. Christie + Co has since released some 727 of these former Spirit managed houses to the national lease market. Deals have been agreed on about 400 and a final tranche of 280 is currently being marketed. They represent some of the best quality pubs to come to the market in recent years.
The waterside town of Hythe, situated at the extreme east of the New Forest, offers many leisure activities such as sailing and water sports, walking and cycling. Steeped in maritime history, Hythe Marina is an excellent viewpoint to watch cruise liners and a popular yachting centre.
Located in Langdown Lawn, close to the High Street, The Croft Tavern is a traditional public house comprising a main bar, games room, 50-cover restaurant, three-bedroom owner's accommodation, a large enclosed beer garden and car park.
The Croft Tavern has a food-led trade, offering traditional bar meals and providing entertainment and quizzes. It attracts a good mix of local regulars, family diners and passers by, has its own darts and pool teams and caters for sports enthusiasts by showing live matches.
Charlotte Burridge from the Winchester office of Christie Finance comments: "I was delighted to arrange the mortgage to enable Jeff and Suzanne to buy their first pub. They have 25 years experience in the trade and previously worked for a number of large corporate operators, including Grand Metropolitan and Paramount Hotels, before managing the Croft Tavern for Punch Taverns since 2005. They are now looking forward to the challenges and benefits of being their own boss! Being experienced in running the Croft Tavern, Jeff and Suzanne are the perfect candidates to become the new lessees and are delighted to take up the new lease opportunity."
The Croft Tavern was sold on new Punch Retailer Agreement lease for an undisclosed figure from an asking price of £72,000 and an annual rent of £59,000.
For further information please contact Charlotte Burridge in the Winchester office of Christie Finance on 01962 844455 or charlotte.burridge@christiefinance.com
Our Ref: CFWin810
