OPERATORS of a pub in South Ockendon have clarified its future after local residents spotted the property was up for sale.

The Knight of Aveley pub's land and buildings are up for sale as part of the disposal of assets by Thurrock Council.

The cash-strapped authority is selling off many of its assets to bring down its debts - which at one time rose as high as £1.5 billion because of a failed, speculative policy of borrowing money to invest in energy projects, which have subsequently collapsed.

The freehold of the Knight of Aveley site will go for auction next week (Thursday, 19 September), with a guide price of £175,000. Currently it generates a revenue of £200 per annum, a peppercorn rent situation likely to change in 2034 when the lease runs out.

The sale material for the freehold does say the site has 'future development potential (subject to consents)'.

The pub is operated by the Craft Union Pub Company who issued a statement to clarify the position after next week's auction was publicised.

They say: "We would like to assure all of our valued customers that, despite recent speculation, The Knight of Aveley will remain open and continue trading in its current form. The sale advertised involves only the freehold of the property and does not affect the operations of the pub in anyway.

"We are immensely proud of Kirsty and the entire team for their fantastic work in serving the South Ockendon community.

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"Rest assured; this dedication will continue without change and The Knight of Aveley will remain a much-loved community hub.

"Thank you for your ongoing support."