Two Whitley Bay pubs to go up for sale after owners go into administration

Two popular pubs in Whitley Bay are set to go up for sale after their owner went into administration.

The Victoria and Dirty Habit, both on Whitley Road, will go on the market in the new year.

The venues are two of a total of 25 pubs in the North East and Yorkshire that are being sold off by the joint administrators of Milton Portfolio Op Co 3 Ltd.

Avison Young and Watling Real Estate have been appointed to market the licensed premises by administrators Ryan Grant and Howard Smith of Interpath Advisory.

Peter Constantine, managing director of the Leisure team at Avison Young, is expecting "strong demand" for the venues.

He said: "We are delighted to be able to bring this portfolio to the market.

"This presents a rare opportunity for an operator to take on an established portfolio of strong performing pubs within a fairly tight geographic area. 

"We anticipate strong demand for the pubs, both as one or a couple of lots and on an individual basis."

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Emma Turnbull, associate director at Avison Young, added: "With the company in administration, this will be a full open sale process.

"We will be gathering information in the forthcoming weeks with a view to launching a full marketing campaign in the New Year."

Ryan Grant, joint administrator and managing director at Interpath Advisory, has confirmed that both pubs in the borough will remain trading while the search for a buyer is carried out.

He commented: “The joint administrators continue to trade all 25 pubs while we seek a buyer for the business and its assets.

"We look forward to working with the teams at Avison Young and Watling Real Estate to bring this high-quality portfolio to market at the optimum time to realise maximum value for creditors.”

The pubs comprise 21 freeholds and four long leaseholds.

The full list of pubs include:

• Black Bull, East Boldon.
• Black Bull, Morpeth.
• Britannia, Houghton-le-Spring.
• Cross Keys, Washington.
• The Crown, Wickham.
• Dirty Habit, Whitley Bay.
• Elephant, Ashington.
• Greens, Sunderland.
• Guide Post Inn, Springwell Village.
• Lambton Arms, Chester le Street.
• Lloyds Arms, Grimsby.
• Millstone Hotel, Gosforth.
• New Inn, Wetherby.
• Old Courthouse, Barnsley.
• Ox Inn, Oxhill.
• Porter Cottage, Sheffield.
• Prior, Sunderland.
• Priory, York.
• Red Lion, Wakefield.
• Ship & Royal, South Shields.
• Smiths Arms, Billingham.
• Sun Hotel, Shipley.
• Victoria, Whitley Bay.
• Whistle Stop, Beeston.
• White Bear, Barnsley.