23 December 2014
Sale of The Five Lions, Walmgate, York
One of York’s traditional public houses is now in new ownership having been sold by Barry Crux & Company.
Situated on Walmgate, a stone’s throw from the main retailing heart of the city, The Five Lions retains a good regular local trade as well as from visitors to the city.
The business’ income is generated from wet sales and 12 en-suite letting bedrooms which generate a further exceptional level of trade. A catering offering could enhance the income even further. The site is complemented by having a spacious car park.
The lease, business goodwill and fixtures and fittings were sold off an asking price of £69,500.
Joe Moore, spokesman for the selling company said that the reason for selling is due to the fact that the company is diversifying into holiday lets.
The sale of The Five Lions is evidence that there is still a market for good quality leasehold pubs which have potential to generate good profits. It is also excellent news for the pub industry in York which has recently come under pressure with changes of use to convenience stores and similar.
We wish the new owner every success.