Ambitious plans as bars sold to Kuckoo director
A package of three North West bars has been sold by leisure property specialists Fleurets on behalf of Star Pubs & Bars.
They are Kuckoo in Preston, which was marketed off a guide price of £225,000; Kuckoo in Knutsford, which was marketed off a guide price of £400,000; and the Fox & Grapes, also in Preston, which was marketed off a guide price of £140,000.
The sale prices cannot be disclosed.
The freeholds for the properties received strong interest – however they have successfully been acquired by the existing tenant of all three sites, Chris Powell, Director of Kuckoo.
He said: “Following the completion of the sale, we can now look forward to a period where we can fulfil our ambitious plans to renovate and enhance the buildings, particularly Kuckoo Preston, to the same high standards as Kuckoo Knutsford and our other cocktail bars in Chester and Sheffield.”
Tim Martin of Fleurets added: “It is always pleasing to sell a pub to an existing tenant, knowing the business is in safe hands.”