Press Releases
New lease sold on the Globe Hotel public house, Chichester
A brand new lease on the Globe Hotel public house at 1 Southgate in Chichester, West Sussex, has been sold to experienced local operators through the Winchester office of leading licensed property agents, Christie + Co, with the finance arranged through their associate company, business mortgage brokers Christie Finance.
The Globe Hotel is located at the 'Southern Gateway' to the city, adjacent to the main railway station, close to the bus station and within half a mile of the city centre.
The Globe Hotel was part of the Spirit Group, the managed division of Punch Taverns, which instucted Christie + Co to transfer more than 720 pubs to the leasehold market in 2006. In less than a year almost 70% of these pubs have successfully completed, or are in the hands of solicitors.
Formerly a railway hotel, the property briefly comprises a main bar with large games area, a two-bedroom manager's apartment, nine-bedroom staff accommodation, a small car park, rear yard and trade patio.
The successful applicants are Sharon and John Chittock, well known local operators who grew up in the pub trade and recently worked part-time in the Neptune pub in Selsey. Mrs Chittock owns the Selsey Gallery, which she will now run under management while she concentrates on operating the Globe. Mr Chittock will continue to work for Rolls Royce in Chichester.
Charlotte Burridge, financial consultant of Christie Finance, comments: "I was delighted to arrange the funding for the Chittocks to enable them to purchase their first pub. They have some exciting plans for the business and are keen to encourage a wider clientele than the pub has experienced recently. They are well known within the area and have a lot of local support behind them."
The Globe Hotel was sold on a new Punch Retailer Agreement Lease for an undisclosed figure from an asking price of £66,000 and an annual rent of £55,000.
For further information, please contact Keith Goodwin of Christie + Co or Charlotte Burridge of Christie Finance in the Winchester office on Tel: 01962 844455
Our Ref: Win829
