Updated: Abbots Mitre for sale
The Abbots Mitre, Chilbolton’s only public house, has been listed for sale at £900,000.
On sale with Christie and Co. the advert describes it as a “highly profitable freehold pub” which is “located in an affluent rural village”.
With weekly sales of £20,000 and some 85 covers, the agent describes it as an “established food-led, destination venue”.
The Abbots Mitre as pictured in the property listing (Credit: Christie & Co)
The property is also listed at rightmove.co.uk, which notes that it is “listed as an asset of community value”. Assets of community value can be nominated by parish councils or by groups with a connection with the community.
Normally the sale of an asset of community value would allow local groups time - a “moratorium” - to come up with a bid for the asset if and when it is sold.
However, the Abbots Mitre is being offered for sale as a “going concern”. A recent House of Commons briefing pointed out that:
Disposal of an asset as a ‘going concern’ does not trigger the moratorium procedures. This would enable, for instance, the sale of a pub to another pub owner to take place without triggering the moratorium period and possibly a community bid.
Villagers clearly hope that if a sale is agreed that, under new ownership, they will continue to enjoy excellent food and drink at their local pub.