A pub set in the picturesque Amber Valley area of Derbyshire is one of ten Midland pubs coming under the hammer next month at a major property and land auction in Birmingham.
The Cock Inn at Muggington, Weston Underwood, is now closed but was popular with walkers, mountain bike riders and outward bound enthusiasts, benefiting from its proximity to Belper, Matlock and Ashbourne.
It will be offered with vacant possession at the Bigwood auction next Wednesday, in the Holte Suite at Aston Villa FC.
Nine other pubs from all over the region – and offered by more than one vendor – will join The Cock in a portfolio of nearly 100 residential and commercial properties and land, including properties from Birmingham and Wolverhampton City councils.
Bigwood director Ian Tudor said: “We view all these pubs, which come with vacant possession, as having excellent potential for a variety of other uses, subject to planning permission.
“Five of the ten will be licensed to continue trading as before and are likely to represent excellent value.”
This will be the first sale of 2009 conducted by Bigwood with its last auction in December raising more than £6.5 million with almost 65 per cent of the lots being sold. Mr Tudor added: “We were delighted when the portfolio ignited a depressed market at the December sales and anticipate there will be a repeat performance on March 4.
“Our auctioneers felt there was a competitive buzz getting back to the old days. We sold lots which illustrated that there are buyers out there for opportunities that are sensibly priced.
“The further fall in interest rates is likely to help us further because investors with large bank deposits in the bank won’t see any point in keeping money there.
“The main reason for our confidence is that we insist on vendors setting a realistic guide price because we know this is likely to stimulate greater competitive interest – so in the end more people will be there to bid.”