Pearmain are well known in Surrey for the six high quality pubs they own, including the popular Onslow Arms in nearby West Clandon, Guildford.
City accountants Chris Frederick and Richard Cryer bought their local pub, The Grantley Arms just over a year ago. After running it with former head chef at Searcys at the Gherkin, Matt Edmonds, the sale has officially been agreed and Pearmain Pubs is due to take over in the New Year.
The Grantley Arms was the Best Turnaround Winner at the Great British Pub Awards 2016 due to the pair’s renovation of the 16th century Grade II listed building. In a short space of time, they turned it into a high dining restaurant earning two AA rosettes and it was named ‘One to Watch’ in the Gastropub Top 50 awards.
Chris and Richard continued to work in London and despite the pub flourishing, recognised that it would require further investment and time in order to take it to the next level. Therefore, they decided to capitalise on what is a strong market for freehold public houses within the Surrey Hills area.
Richard Wood, Business Agent at Christie & Co who handled the sale comments, “This was an off-market sale which we managed entirely confidentially without the staff or customers knowing until Chris and Richard were ready to announce their plans.
“The pub received several bids from both large pub companies and smaller local operators who were all keen to continue the success that Chris and Richard had built up. It was eventually sold off a £2m guide price.
“Freehold pubs of this size and nature in Surrey come to the market extremely rarely. This means that when they do, the outstanding demand from operators drives prices up really benefitting anyone who wants to sell.
“We wish Chris and Richard as well as Pearmain Pubs all the best in their future endeavours.”