Faucet Inns, the 25-strong London and south-east multiple headed by Steve Cox, has bought the freehold of one of its Finchley pubs for £1.1m. The deal for the Catcher in the Rye on Regents Park Road was exchanged within 48 hours of agreement and completed within one week. The freehold was acquired from a private owner. The sale was handled by Davis Coffer Lyons, which said: “The company is now looking for further freehold and leasehold opportunities in London and the surrounding area.” Last year it acquired a package of six pubs from Mitchells & Butlers. Paul Tallentyre, director of pubs at Davis Coffer Lyons, said: “The purchase makes common sense. Faucet Inn already trade the property so understand the business and now that the substantial rent is not an issue the property should be a lot more profitable. “There are so little freehold opportunities around in mark hence aggressive players in the market are ready to snap up these assets quicker than ever. This is a valuable new addition for Faucet - a contemporary pub that is popular with local residents and office workers whilst being a destination venue in its own right.”