Scunthorpe town centre pub is put up for sale
The Penny Bank pub in Scunthorpe has been put up for sale
By Scunthorpe Telegraph | Posted: 20 Nov 2017
The freehold of a popular Scunthorpe High Street pub has been put up for sale for the knock-down price of £200,000.
The decision to sell the Penny Bank comes six years after Blackpool-based firm Amber Taverns bought the business.
At the time, Amber was reported to have paid £240,000 to rivals Enterprise Inns for the building.
Company bosses were this week keen to stress the business, with manager Sharon Thomas in charge, would continue to trade as normal until the sale was completed.
Amber operations director Gary Roberts said: “We can confirm we have placed the premises on the market as a going concern, so it’s very much business as normal.
“This is as a result of the strategic review by Amber Taverns, which is undertaken every year.
“Hopefully we can sell the property to a more regional operator of licensed premises who can continue to develop the business as a public house.”
The Penny Bank pub, on High Street in Scunthorpe
The Penny Bank has been at the forefront of a High Street beer price war with the nearby Tavern, selling a pint at £1.70 and even less for loyalty card holders.
The pub started life in 1988 as The Mint after local businessman Mick Pogson converted the former Yorkshire and Barclays Banks branch at the corner of Allenby Street and the High Street.
It has also traded as The Bishop Blaize under Derby-based Rutherford Inns.
Overseas growth is a winner for coffee specialist as it takes top spot in Fast Track rankings