One of Wolverhampton's best-known pubs on market for £2.4 million

The freehold of the Hogshead, on the corner of Stafford Street and Broad Street in Wolverhampton is being offered for sale through Savills estate agency.

The sale will not affect the operation of the pub, which is operated by the Barley Pub Company with a 20-year lease. 

At the moment, the operator pays a rent of £236,444 per annum, but this will rise to £277,703 on completion of the sale. 

The imposing terracotta building was originally constructed in 1885, next to the drill hall for the South Staffordshire Regiment. 

Alterations to the upper floors were made in 1924.

The pub traded as The Vine until 1983, when it closed and was converted to offices, but in 1998 it received an extensive renovation and was relaunched as The Hogshead. The original name can be seen stamped into the brickwork.

Today it is one of the busiest pubs in Wolverhampton, known for its large, heated courtyard and range of real ales.

The Barley Pub Company holds a lease on the building which runs until 2024, with Stonegate Pub Company, Town & City Pub Group and Hops Pub Company acting as guarantors.

Savills said the pub had a total floorspace of 11,769 sq ft across four levels. The agent described the pub as being located directly opposite the University of Wolverhampton with a student population of 21,000 across its three campuses. 

"The Hogshead is situated within the heart of the leisure circuit in Wolverhampton with nearby operators including The Royal London, The Moon Under Water, The Goose, The Billy Wright, and a number of independent restaurant and bar operators," the agent added.  

"The three-storey corner building is arranged over ground, basement, first and second floors with exposed brick elevations beneath a pitched and hipped roof."