Sale of traditional pub & restaurant set for conversion to residential dwelling
Specialist business property adviser, Christie & Co has completed on the sale of The Sutton Arms, a traditional pub and restaurant located in Elton, Stockton on Tees.
Renowned for its extensive and varied menu, The Sutton Arms has been under the same family ownership for the past 35 years. The large detached building sits on a large 2.4-acre plot on the outskirts of Elton, an affluent North East village, circa four miles from Stockton on Tees.
The previous owner, Alan Flegg made the decision to sell to retire from the sector. He comments, “I am 74 now and think it’s about time I retired. We had been trying to sell the business through another agent for a few years and hadn’t had much interest at all. David at Christie & Co has done an outstanding job for us and we would highly recommend him to anybody selling their pub in the future. We have thoroughly enjoyed our 35 years at The Sutton Arms, and we’d like to wish all of our customers a fond farewell and all the very best for the future!”
The Sutton Arms has been purchased by a local businessman who was attracted to the property’s idyllic village setting and plans to convert the building into a residential dwelling for he and his family to reside in.
David Cash, Director at Christie & Co handled the sale and comments, “We began marketing the pub for sale mid-July, shortly after the pub reopened following the COVID-19 lockdown. We are currently experiencing an increased demand for sites of this kind so we were inundated with enquiries and received multiple offers within the first week from a variety of buyers – some wanted the pub as a trading business, others wanted it for potential conversion.
“We ran a best and final offers process and a number of prospective purchasers were left disappointed that their bids were unsuccessful.
“I am thrilled to have achieved such a speedy result for Alan and wish him well in his hard-earned retirement.”
For further information on this press release, contact:
Bronte Hughes, Corporate Communications Executive
P: 020 7227 0794 or E: bronte.hughes@christie.com
Contact the agent:
David Cash, Associate Director
P: +44 (0) 7736 621 023 or E: David.cash@christie.com
