Pub People Company, the Midlands-based pub operator, has bought the freehold of one of its tenanted pubs from Greene King as part of a strategy to increase its freehold mix. The company has run the Black Swan in Edwinstowe, Nottinghamshire, for eight years as a tenant and has now secured the freehold for an undisclosed sum. The company currently owns five of its 47 pubs freehold, while a further 17 are held on free-of-tie leases. Operations director Andrew Crawford said: “We are looking to grow our freehold estate but it’s about getting the right pub for the right price. It’s a very advantageous model from an operator’s perspective. The rent falls away and we have much higher wet margins and twice as much machine income.” Crawford said the around £10,000-£15,000 is likely to be spend upgrading the three bedrooms at the Back Swan, although the described the pub’s condition as “pretty good”.