Punch Taverns, the UK’s largest pub company, has made its largest ever single acquisition with the purchase of an outlet in the affluent town of Godalming, Surrey. 

The Red Lion, on Mill Lane, has been acquired for more than £1m from freeholder Ian Thompson.

Alan Price, a former general manager for Whitbread, has taken on the lease and is now a multiple operator also running the Punch-owned Harrow at Compton, near Guildford.

David Pepper, acquisitions manager at Punch Taverns, said: “We are delighted to have acquired such a prestigious property and well established business, which enjoys a prime location on the High Street.

“The purchase highlights our intention to add the very best pubs to our estate and we look forward to working with Alan, who has demonstrated exceptional abilities as a licensee, in developing the business and continuing its well earned reputation.”

In an area of high property prices where freeholds are at a premium, Punch was attracted to the pub due to its size and exceptional turnover. David was able to secure the deal with Ian and the pubs exchanged hands earlier this summer.

Alan said: “When I first decided to start my own pub business it was for the independence and, having gained a taste, the opportunity at the Red Lion came along and was too much to resist.”

Living between the two pubs in Binscombe, Alan oversees a team of around 12 staff per outlet and is looking to increase the food offer at the Red Lion. He is supported by Punch’s business relationship manager, Alix Horne.

“As an already very successful business I won’t be looking to make many changes, except for introducing a new menu of traditional and affordable home cooked food, using fresh, local ingredients,” he added.

The pub, which has been listed in the Campaign for Real Ales (CAMRA) Good Beer Guide for 13 years running, is divided into two halves.

The more traditional bar area serves a wide range of cask conditioned beers, Belgium bottled beers and a selection of wines.  The Library Room is popular with over-21s and houses a pool table, large screen TV and juke box.

Punch Taverns is the UK’s largest pub company with an estate of more than 9,200 leased, tenanted and managed outlets.

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For more information please contact Jules Kerby or Nick Trueman on 0121 200 0780.