Rural Kent village pub acquired by first time buyers
Specialist business property adviser, Christie & Co has completed on the sale of The Red Lion, a traditional pub situated in the heart of the picturesque village of Milstead, in Kent, to new entrants in the sector.
The attractive two storey venue features a warm and welcoming bar area with an original log fireplace and wooden floors, which can comfortably seat up to 20 covers, and a well presented restaurant area for up to 55 covers. The property is situated within a one acre plot, with large trade garden serving up to 55 covers and a sizable gravel car park for around 40 vehicles.
The business sits just three miles from the town of Sittingbourne and is ideally placed to attract passing trade from the nearby villages of Frinstead, Wichling, Doddington and Lynstead. Milstead is also accessible via the M2 motorway, making the pub well placed to draw in additional trade from visitors to the popular Kent countryside.
Previous owners, Patrick and Josephine Coevoet owned the pub for the past 13 years and are now looking to retire. They comment, “We will be sad to see the pub go but have enjoyed every moment, and it is now time to leave the sector and do something new. James Hughes from Christie & Co has been a pleasure to work with and has provided us with lots of advice and guidance along the way.”
The new owners, Christopher and Hazel Mitchell, are new to the hospitality sector and are extremely excited about their new venture.
James Hughes, Business Agent at Christie & Co’s Maidstone office who handled the sale, comments, “The Red Lion stands in an amazing rural location with stunning picturesque views. We received plenty of interest in the property due to the attractive asking price, but I am most pleased to have sold this to Mr & Mrs Mitchell and wish them the very best of luck in their new venture.”
The Red Lion was sold off a freehold asking price of £575,000.
