Popular Lynn pub is put on the market

The Lattice House - Chapel Street ENGANL00120110930120339
The Lattice House - Chapel Street ENGANL00120110930120339
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An historic pub in the heart of town is one of a group of 34 that went up for sale this week.

The Lattice House, a Grade Two-listed building down Chapel Street, in Lynn, has gone up for sale as part of a portfolio of the JD Wetherspoon Group.

Thirty-four pubs across the chain have been placed on the market with a total price tag of £40 million.

On the move, Wetherspoon spokesman Eddie Gershon said: “Wetherspoon has put The Lattice House in King’s Lynn up for sale.

“It is one of 34 Wetherspoon pubs that have been put on the market.

“It is a commercial decision taken by the company to place a small percentage of its pubs for sale.

“We appreciate that our customers will be disappointed with the decision.

“The pub will remain open as a Wetherspoon outlet until it is sold.

“If the pub is sold then all staff will be offered employment at other Wetherspoon pubs or they might wish to stay on with the new owners.”

The Lattice House is one of two Wetherspoon venues in the town centre, with the Globe, on Lynn’s Tuesday Market Place, being the other.

Back in July, Wetherspoon, who have 953 pubs across the UK, announced it was disposing of 20 leasehold pubs.

But 27 of the latest 34 are either freehold or long leasehold.

They have a combined turnover of £38million with average weekly sales per pub of more than £22,000.

In September, the company said pre-tax profit fell 25.1 per cent to £58.7million for the 52 weeks to July 26, down from the £79.4million the previous year.

Wetherspoon also has to face the introduction of the National Living Wage from April next year, whereby staff over 25 must be paid at least £7.20 an hour, rising to £9 by 2020.

Staff costs make up around 25 per cent - or 75p - of every pint sold for an average of £3 in pubs, according to Wetherspoon’s.

The company purchased the Lattice House back in November 1998.

But it was 18 months before it reopened its doors to the West Norfolk public because of work carried out at the venue.

The disposals, coupled with a scaled-back new pub openings target of 15 pubs, mean this will be the first time JD Wetherspoon has ended the year with fewer pubs than it started with.