THE AWARD-WINNING Grape and Grain pub has been bought by Wetherspoons in a £1.9 million deal.
The pub – formerly The Sportsman and previously the Crystal Palace hotel – was on offer at £875,000.
The freehold interest in the award winning pub the Grape & Grain in Crystal Palace has been sold by AG&G.
Director Anthony Alder of chartered surveyors Alder Grimes and Gooderham said: “The sale price achieved was far in excess of the estimate. “The interest was phenomenal and our clients are delighted.
“European Bars currently run the pub. It is free of tie and they have introduced several real ales and developed an excellent reputation, winning several awards and appearing in the Good Beer Guide for the last four years running. Even MPs like the place – the all-party Parliamentary beer group recommend it.”
Chartered surveyors AG and G say the new landlord has the right to terminate the lease by giving notice at least a year before the break date in September 2016. Otherwise, the lease expires in December 2021.
Wetherspoons purchase of the Grape and Grain is unlikely to affect Wetherspoons other pub The Postal Order on Westow Street.
A (very nice) spokeswoman at Wetherspoons told News From Crystal Palace: “There are many towns and many areas where there is more than one Wetherspoons pub.”