Substantial pub restaurant in North Yorkshire on the market
Specialist business property adviser, Christie & Co has brought to the market the Derwent Arms, a substantial pub restaurant in the town of Norton, close to Malton, North Yorkshire.
Operating from a three storey, end of terrace property, the pub comprises a bar and dining area for up to 36 covers and a separate games area with a dartboard and pool table, plus a stage for live music performances. Additionally, the first floor provides self contained four bedroom owners’ accommodation and additional space on the second floor, which could be converted into letting rooms, subject to planning permission.
Externally, the site, which is almost half an acre in size, offers picnic table seating to the front and covered patio decking seating to the rear, plus extensive customer car parking for up to 40 vehicles.
Sitting in a prominent roadside position, the Derwent Arms is ideally located to capitalise on passing trade and local custom, situated just a short walk from Malton town centre and close to nearby attractions, including the North Yorkshire Moors National Park and Malton Norton Golf Club. With development plans to build hundreds of new homes in the area, its increasing population is set to grow even further.
Having run the pub independently for the past 18 years, current owners, John & Sheila Rushworth have decided to sell the freehold interest in order to pursue retirement and explore new projects. They comment, “We’ve thoroughly enjoyed running this pub over the years with family and friends. The time has come for new ownership to drive the business to the next level and we welcome offers from prospective purchasers on this established pub.”
Sam Ashton, Business Agent at Christie & Co who is handling the sale, comments, “The Derwent Arms provides a great opportunity for a new owner to modernise and invest throughout to drive the established business and grow trade even higher. With demand in the area for letting rooms, the spacious second floor of the property is ideal for conversion and provision of guest accommodation, providing another income stream. Not only this, the first floor is set up for generous owners’ accommodation, providing a home as well as a business property.
“Its location on a prominent main road in a densely populated area of North Yorkshire makes this pub an excellent business investment and we anticipate high levels of interest.”
The Derwent Arms is on the market for an asking price of £775,000 for the freehold interest.
