Popular Nottingham pub has sold for more than £1million but it is not closing

A popular Grade II listed Nottingham pub has been sold for £1.2 million after being auctioned earlier this year. Nottinghamshire Live reported in February that the Canalhouse, operated by Castle Rock Brewery, had been put up for auction by Nottingham City Council – the building’s owner.

The site was expected to sell for around £975,000 but it has now been confirmed that the building has sold for £1.2m. A spokesman for Castle Rock said in February that it still has 26 years left on its lease and therefore won’t be going anywhere despite the sale.

The Canalhouse building is one of many assets sold by Nottingham City Council in recent years as it tries to plug multi-million pound budget gaps. Between 2020/21 and 2023/24, the authority made just over £80m from the sale of properties it no longer needs.

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Prominent sites in Nottingham that the council is still looking to sell include the Guildhall on Burton Street. Confirmation of the Canalhouse sale came at a meeting of the city council’s audit committee on Friday (July 26).

At that meeting, council officers said a key challenge for the coming years was paying interest on the emergency money borrowed by the Government. The actual debt itself is due to be paid off by April 2026, but interest has accrued because the council has to borrow money to repay some of the Government’s cash.