Pub operator JD Wetherspoon has bought Pearl Assurance House in central Penzance from Criterion Properties for around £650,000 in the biggest commercial property transaction the town has seen this year.
The 465 sq m (5,000 sq ft) property houses a range of tenants in retail units on the ground floor. Richard Goldring of Goldring Yates, which is acting for Wetherspoons, said of the the pub group’s plans: “We have been offering the tenants nice fat cheques, but if they don’t want to take them that is up to them. Wetherspoons will hold on to the property until it is available for development.”
The property has planning consent for food and drink use.
EGi News 13/08/01
