Concerns that another town pub might go for housing have ended with news that the Green Dragon has been bought by a major pub chain.
“We completed the deal last Friday and the buyer is a large-scale pub operator in the South West,” said agent Richard Wood of Christie & Co.
He refused to reveal the buyer’s identity but confirmed that it is not Wetherspoon, nailing a current local rumour that the pub giant was considering pulling out of its Old Town Hall project.
“The Green Dragon is a site with tremendous potential for an experienced operator,” said Mr Wood. “In the last six months we’ve begun to see a tremendous appetite for pubs as businesses, rather than development sites.
“The finance is coming from private equity groups who see really good returns from realistically priced properties.” The Green Dragon was on the market for a £195,000 asking price, after failing to sell at auction in London.