South Shields pub lease for sale as owners retire
Morgan’s pub in South Shields has been brought to the market by specialist business property adviser, Christie & Co.
The current operators have owned the well-established business for 15 years and now wish to sell due to retirement.
The pub, formerly known as The Lord Ashley, sits on a corner site in a highly visible location in the town next to a new housing development. It underwent an extensive refurbishment in December 2015 but still retains some of its traditional features.
A corner bar servery overlooks the main trading space and there is also a raised seating area which is ideal for dining. On the first floor, there is a well-presented function room/lounge with table and chair seating and a large catering kitchen means that a food offering could easily be introduced.
The second floor contains former owners’ accommodation which has been converted into a workspace by the present owners; however this could be easily converted back into living accommodation if required.
David Cash, Business Agent in Christie & Co’s Newcastle office who is handling the sale, comments, “Morgan’s presents a fantastic opportunity for an owner-operator to take over this tenant-friendly lease, which is importantly free of any brewery or pub company tie.
“The business is well-established in the town, and is supported by local residents and well as a number of sports teams in the area. Although the pub has been built up and run well, there is always scope for a new tenant to put their own mark on things.”
Morgan’s is available on a leasehold basis at an asking price of £65,000, with an annual rental of £27,000 + VAT.
