The Plough public house in Old Colwyn, North Wales is set for a new lease of life after being acquired by local bar operator Richard Bradbury.
Mr Bradbury, a gold professional, also owns the 147 Sports Bar and Gresham Tapas Bar in Llandudno and plans to return The Plough to its “traditional roots” by refurbishing the premises to provide a courtyard at the rear and converting outbuildings to a function room.
The two-storey building in Abergele Road, Old Colwyn was sold from an asking price of £150,000 on behalf of Punch Taverns by Colin Siebert, director, licensed and leisure at the North West office of real estate advisors Colliers International in Manchester.
Mr Siebert also recently sold The Parade public house in Llandudno for a sum in the region of £180,000 on behalf of Enterprise Inns plc to another local hotel and bar operator.
Mr Siebert said these transactions proved the ongoing demand for public houses in popular resort towns in North Wales such as Old Colwyn, Rhyll and Llandudno.
Mr Siebert said: “The deals for The Plough and The Parade are the latest in a series of pub sales we’ve secured in North Wales and although the market overall remains testing, this transaction proves that buyers are still attracted to the right product at the right price.”