Cotton Tree Pubs, a new venture set up by Redcomb Pubs director John Anderson, is to open its first site on the edge of the New Forest.
The company has taken on a tied lease with Greene King at the Elm Tree in Ringwood.
Marketed through Fleurets, the lease was sold off a guide price of £185,000. The pub had a turnover of over £1m net.
Anderson said: “Scott, my business partner and I are currently acquiring our first few sites but unlike the Elm Tree, the others are closed and currently being refurbished. The Elm Tree is a great venue with huge potential and we intend to build on the established trade here and given the local community even more reasons to support their local.”
Kate Dowd from Fleurets said: “This was an exceptional property with a high turnover due to its popularity all year round from both locals and visitors to area, providing any new tenant with a good consistent turnover.”
