Bowers Tap: ‘Traditional’ Leeds city centre pub to be sold at auction with £1.3m price tag

The Bowers Tap at 157 and 158 Lower Briggate has a guide price of £1.3m and will be sold at auction on December 13.

The lease until 2044 is guaranteed by the Stonegate Pub Company and is subject to annual Retail Price Index (RPI) increases to a minimum of two per cent and maximum of four per cent.

The prominent two-floor pub currently generates £167,517 in annual rent. Its website describes it as a “traditional” pub that is the “perfect venue for a spot of lunch in the day time, after work drinks, or a perfect place to start your weekend”.

Jon Skerry of auctioneers Acuitus said: “Despite the negative headlines surrounding the health of British pubs, assets such as these have strong advantages in terms of location, passing trade, and potential for alternative use.

"Situated in the heart of the vibrant city of Leeds, we expect an asset of this quality to attract significant investor interest.”

The Acuitus auction will take place on December 13 at 1pm and will be broadcast via livestream on the Acuitus website with bidding online, by telephone and by proxy.

The pub was previously set to go up for auction in November.