Farringdon pub blighted by A32 closure up for sale at bargain price

Thursday 4th August 2022 4:00 pm
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The Golden Pheasant pub in Farringdon ()

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A pub currently blighted by the ongoing closure of the A32 in Lower Farringdon is on the market for £95,000.

After enduring more than five weeks of the planned 15-week closure, David and Melanie Scholes – owners of The Golden Pheasant – have had enough.

They have reduced the asking price for their lease from £200,000 in an effort to secure a quick sale.

Ironically the closure costing them money now is to prevent a repeat of flooding which cost them three months of business in 2014.

Mr Scholes said: “We have been up for sale of our lease now for more than two and a half years, with no genuine takers.

“First there was a recession of the pub and licensed industry in 2018-19 – I think about three tenanted pubs went into bankruptcy in the Alton area. Landlords were demanding too high rents and the businesses couldn’t survive the increases.

“Then came Covid, and the closures of our livelihoods once again became increasingly too much to bear.

“But for our joint pensions, Melanie and I wouldn’t have survived the two years of closures.

“We built this business up from nothing over 11 years to what it is now and it has been a thriving concern – indeed, before Covid we achieved the East Hants Camra Pub of the Year Awards four years running for ales and quality food.

“For someone wishing to take on our beautiful country pub it’s a no-brainer.”

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