Specialist business property adviser, Christie & Co has completed on the sale of The Three Tuns in the historic village of Guilden Morden, on the Cambridgeshire-Hertfordshire border, to local community group, the Guilden Morden Community Pub (GMCP) Ltd.
The two storey, Grade II listed property has been extended over the years, with the building still maintaining many of its original character features. The currently closed pub comprises a 60 cover restaurant area and substantial trade garden for up to 80 covers, plus parking for up to 20 vehicles.
The Three Tuns is well placed in the centre of the affluent and popular village of Guilden Morden, benefitting from a high volume of passing trade. The business also has great potential to draw large amounts of business from the busy nearby areas of Royston, Baldock and Cambridge, as well as the surrounding villages.
Previous owner, Beverley England owned the pub for five years and has now decided to retire from the sector in order to pursue some of her other passions. Beverley comments, “Tom Orchard from Christie & Co facilitated the complicated asset sale of my pub to a local community group. Tom’s regular and clear communication with all parties ensured momentum was maintained for a successful transaction.”
The new owner, local community group, Guilden Morden Community Pub Ltd, plans to undertake an extensive refurbishment project following the members’ combined purchase. The group joined together in their passion to retain the pub due to its local importance and the sense of community such an establishment provides. They plan to re-open the pub in early 2019 and Doug Johnston from the Guilden Morden Community Pub Ltd comments, “The GMCP Management Committee, with the help of Christie & Co, is delighted to have completed the purchase of the community-owned Three Tuns in Guilden Morden, South Cambridgeshire. The Committee is looking forward to restoring this important village asset for future generations to enjoy.”
Tom Orchard, Business Agent at Christie & Co’s Reading office, handled the sale and comments, “I am delighted to have sold The Three Tuns which, although has been a very complicated deal, has now been sold to the satisfaction of all parties involved. I wish the Guilden Morden Community group and Beverley England the best of luck with their future endeavours.
“This sale illustrates the importance of village pubs to the local community and in this case, the willingness of those in the community to keep their establishment open, plus the range of buyers available for these types of assets.”
The Three Tuns was sold off a freehold asking price of £385,000.