Pubs & Restaurants Market Insight: North East & Yorkshire

The demand for freehold pub and restaurant businesses across the North East and Yorkshire remained robust in 2022, despite the challenging trading conditions. 

Buyers perceive more security in bricks and mortar and so the majority of sales have been freehold, however there is also an appetite for good quality leasehold businesses.

Wet-led pubs are of particular interest of late, as restaurants and food-led pubs are under more pressure due to the increasing costs of goods. The recent rise in the cost of borrowing has stalled some buyers from pursuing opportunities, however there is still plenty of demand. Funding remains available for the right opportunities and there are lots of buyers out there with liquid funds who are prepared to invest.

Pubs with rooms or other accommodation such as glamping are proving very popular due to strength of the staycation market. This also means the market for rural and semi-rural sites, particularly tourist destinations remains buoyant.

Major pub companies and breweries have maintained a long-term view towards the pub market. At present, we are working with several very acquisitive, corporate clients who are keen to continue expanding their estates.  

We advised on over 2,100 pubs and restaurants in the UK last year. Here’s a roundup of some of our recent sales and current opportunities on the market across the North East and Yorkshire.

 

SOLD

The Lochside

Wet-led pub located in Benton, Newcastle upon Tyne.

The Olde Ship

Harbourside pub in coastal town of Seahouse, Northumberland, which received multiple offers within two weeks of going to market. The pub was acquired by Northumberland based company, the Inn Hospitality Group, their second purchase through Christie & Co.

The Maypole, North Yorkshire

The Milecastle, Haltwhistle

Family-run pub with holiday cottages overlooking Hadrians Wall, just north of Haltwhistle, sold to

The Corner House

Sale of Tim Wilks’ second Sedgefield pub, The Corner House, to allow him to focus on his growing bowling alley chain, Lane7. The pub has been acquired by Lancashire-based pub company, Trust Inns. This is the third pub that Christie & Co has sold on behalf of the Tim Wilks.

ON THE MARKET

The Black Bull, Wylam

The Queens Head, Finghall, North Yorkshire

White Horse Inn

Traditional pub with letting rooms in the highly desirable village of Ampleforth, North Yorkshire, which is a brilliant opportunity for an owner-operator. The pub is available on a free of tie leasehold agreement with an asking price of £55,000.

The Helwith Bridge Inn

Independently owned pub dating back to the 1820s in Settle, North Yorkshire, which overlooks the scenic River Ribble. The inn is on the market for offers of over £350,000.

The Hope & Anchor

Primely located pub in the market town of Pontefract in West Yorkshire. Having been recently renovated, the pub features a whiskey lounge, beer garden and a pizza oven. We are advised that the pub takes in an average of £6,000 in wet-led sales per week and is on the market for £565,000.

For more market insights, read our Business Outlook 2023 Report: Finding Clarity

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