A flurry of activity in the pub sector in Scotland has seen property consultant Ryden sell a string of pubs across the country.
The firm said six recently struck deals were worth nearly £1million in total in an another sign the economy is improving.
In Inverness, Deeno’s Sports Bar in Academy Street was sold to Cairngorm Brewery for continued use as a pub.
Ryden negotiated the deal on behalf of Star Pubs and Bars (SPB), which was selling the property at offers over £280,000.
The Northern Lights bar and restaurant at Hatton of Fintray in Aberdeenshire was sold to a private buyer for continued use as a pub after Ryden marketed the property for Punch Taverns at an asking price of £250,000.
The Tayport Arms in Nelson Street, Tayport, Fife, was also sold to a private buyer on behalf of SPB after going on the market at offers over £125,000. It too will continue to trade as a public house.
Ryden sold the Cooper’s Rest in Easter Road, Edinburgh, to SIPP on behalf of Punch Taverns. The property, which will also continue to trade as a public house, was on the market at offers over £145,000.
The nearby Albion Bar, which was another of Punch Tavern’s sites, was sold privately after being advertised at an asking price of more than £135,000.
To the east of Edinburgh, the Old Ship Inn in Port Seton was acquired from Punch Taverns by a private client after offers over £250,000 were sought.
Andy Macpherson, licensed trade expert at Ryden, said: “The fact that the bulk of these properties are being retained for pub use is encouraging for the pub sector and a definite sign that there is growing confidence that the economy is improving.
“The market for these types of secondary licensed properties, however, is still fairly dependent on cash rich buyers.”