Lane 7 founder Tim Wilks instructs Christie & Co to sell second Sedgefield pub
Specialist business property adviser, Christie & Co, is pleased to announce The Pickled Parson of Sedgefield, a modern British coaching inn located in Sedgefield, Stockton-On-Tees has been sold to a local businessman.
The Pickled Parson occupies a prominent, elevated position in the centre of Sedgefield and forms party of a long-established drinking and dining circuit, which is popular with locals, but also benefits from tourist trade.
The previous owner, Tim Wilks took the decision to sell the venue to focus on his growing bowling alley chain, Lane7.
David Cash, Director at Christie & Co handled the sale and comments, “We are delighted to have successfully sold The Pickled Parson on behalf of Tim to a local buyer. This is the second pub we have sold on his behalf – the other being The Fox Hole, Piercebridge in 2019.
“The sale underlines the ongoing demand from buyers for good quality licensed opportunities, despite the challenges faced by the hospitality sector during the last 18-months. Christie & Co sold more than 350 hospitality businesses across the country in 2021 and activity is showing no signs of slowing down for this year.”
With this sentiment in mind, coupled with the exponential growth of his core business, Lane 7, Tim has now instructed Christie & Co to sell his last remaining pub, The Corner House, also in Sedgefield.
The Corner House, formerly The Black Lion, was acquired by Tim back in 2018 and has undergone a significant refurbishment. Internally the pub is decorated in a modern and contemporary fashion whist preserving some traditional pub features. The real hidden gem lies at the back, an enclosed courtyard leading through to a beer garden capable of hosting around 150 people.
David Cash further comments, “Whilst marketing the Pickled Parson, I was inundated with phone calls from people asking whether Tim would also sell The Corner House. At the time, it was his intention to retain this asset and continue to run it under management. However, some really exciting opportunities have been presented to Tim for Lane 7 and therefore it makes sense to exit the pub industry completely.
“We already have strong interest from local, regional and pub company operators as well as private individuals and expect more during the course of the marketing campaign.”
For further information on this press release, contact:
Bronte Hughes, Corporate Communications Executive
P: 020 7448 8849 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
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