A new, 10-year Punch lease has been sold on the Crown hotel in Lockerbie, Dumfries-shire.
Punch invested £325,000 in upgrading the pub-restaurant before its sale to the new tenants, Polish couple Gregor and Magda Piewcewicz, who have clocked up a wealth of experience in the catering and licensed trades
The property, which is one of the longest-established hotels in Lockerbie, lies in the centre of the busy Borders town, near the main shopping area.
It comprises a 70-seat, open-plan bar and dining area, an inner courtyard with canopy for outside drinking and smoking, six letting bedrooms to sleep 12 guests, and a three-bedroom owners’ flat.
The Glasgow office of Colliers Robert Barry sold the lease on the property, which carries an annual rent of £33,000, off a guide price that included £30,000 for the inventory, an £8,250 rental deposit, and £995 towards Punch training costs.
By Angela Frewin