Group of seven pubs in the north of England on the market
Specialist business property adviser, Christie & Co has brought to the market a group of seven freehold pubs which operate within the Authentic Alehouse brand, located across the North East and North West of England on behalf of Joint Administrators, Quantuma LLP.
The group comprises of the Albert Hotel in Hull, Countess of Rosse in Shipley, Bradford, Crown Inn in Addingham, West Yorkshire, Fountain Inn in Barnoldswick, Lancashire, Ponty Tavern in Pontefract, Red Lion in Driffield, and the Wakey Tavern in Wakefield.
All of the sites are operated under management and all apart from the Fountain Inn and The Crown, which are rural village pubs, are situated in busy town centre or suburban locations. Currently, the Red Lion, Wakey Tavern, and The Crown are closed to undergo refurbishment, whilst the remaining four are open and trading.
Predominantly open plan sites, the pubs feature spacious ground floor trading areas and offer a mix of manager’s accommodation and letting rooms, providing potential for additional revenue streams. Additionally, the majority of the sites provide external trading space in the form of beer gardens or patios and customer car parking. Due to their proximity to each other, ranging broadly along the M62 corridor, this group of pubs is ideal as a portfolio purchase to establish or bolster a significant presence in the north of England.
Neil Morgan, Managing Director – Pubs & Restaurants at Christie & Co is handling the sale and comments, “The sale represents a good opportunity to acquire a wet led portfolio in the north of England. We expect to receive strong interest from a range of buyers, including regional operators looking to strengthen their current portfolio, or investors looking to create a presence in the north of England.”
Offers are being invited for the freehold interest of the portfolio, with offers for subgroups or individuals pubs also considered. The deadline for all bids is midday on 15th April 2019.
