Newcastle and Northumberland pubs for sale: 25 boozers hit the market after pub group appoints administrators

Gosforth's Millstone is one of the pubs to hit the marketGosforth's Millstone is one of the pubs to hit the market
Gosforth's Millstone is one of the pubs to hit the market | Google
A large number of local pubs are up for sale as part of a 25 site portfolio.

Twenty-five pubs that made up the Wear Inns portfolio have been brought to the market after falling into administration, including a large number of North East sites.

Wear Inns was acquired by a real estate firm for £22.4m in 2018.

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However, administrators were appointed to the pubs' operator Milton Three Pub Group in November. The firm said at the time all 264 members of staff had been retained to assist with trading.

The 25 pubs located across the North East and Yorkshire have remained open following the appointment, including over the busy festive period.

Closer to Newcastle, the The Millstone in Gosforth is on the market while The Crown in Whickham is also available.

Two pubs named the Black Bull - in East Boldon and Morpeth are both available, as is The Elephant in Ashington, Northumberland.

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A duo of Whitley Bay pubs are also available, these are The Townhouse and The Victoria.

Emma Turnbull, associate director at the Newcastle office of Avison Young - the administration group - said: “This sale offers a rare opportunity for a wide range of purchasers to acquire an established, strong performing pub group in a fairly tight geographic area and with a quality track record.

"The pubs have been well managed since our client’s appointment and have traded well over the festive period.  We anticipate a strong level of demand and expect a busy marketing campaign.”

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Peter Constantine, managing director of Avison Young’s Leisure team, added: “We are delighted to be handling this high profile sale on behalf of the administrators. We expect to receive multiple offers from a variety of bidders. We welcome all offers, particularly for the group as a whole, but we will also consider offers for smaller packages or individual sites.”

The 25 pubs are located across the North East and Yorkshire and comprise 21 freeholds and four long leaseholds.

Other pubs within the group include sites in South Tyneside, Sunderland, Northumberland, County Durham, Yorkshire and Lincolnshire.

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