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Wetherspoons buy Paignton pub
Pub giants J D Wetherspoon have purchased another substantial pub in Torbay, the Talk of the Town, Torbay Road, Paignton. This was the second acquisition in the Bay during 2009 for Wetherspoons following their recent development of the former Bar Med unit in Fleet Walk, Torquay, now rebranded and renamed The Green Ginger. The sale was negotiated by joint agents Waycotts and Bettesworths for an undisclosed sum off an asking price of £1.1m.
Talk of the Town has been in the same family ownership sincere 1948 and the owners decided last year to put the property on the market in order to retire. The premises have a 70ft frontage to the busy Torbay Road and approximately 5,000 sq ft gross internal area on the ground floor. There is seating for 230 inside and up to 48 outside. The property features an excellent Commercial Kitchen with an Owners/Managers Flat and spacious storage and back of house space on the first and second floor. The premises underwent a substantial refurbishment in 1997 and it is understood that Wetherspoons will rebrand the pub as one of their traditional Freehouses.
The sale was conditional on a variation of licensing terms which have been agreed by Torbay Council and the takeover is due to take place on 25th January 2010.