Avison Young and Watling Real Estate launch the marketing of the 25 pubs in the former Wear Inns pub portfolio

Following the appointment of Joint Administrators Ryan Grant and Howard Smith of Interpath Advisory to the Milton Portfolio Op Co 3 Ltd in November last year, joint agents have this week launched a widespread marketing campaign of the 25 pub portfolio.

The 25 pubs located across the North-East and Yorkshire have remained open following the appointment and have benefitted from a busy trading period over the festive season.

The agents report a significant level of interest from national, regional and individual operators in response to the widely publicised appointment of Administrators. Emma Turnbull, Associate Director at Avison Young’s Newcastle office 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”.

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”.

Alex Sweetman, Director at Watling added “we look forward to progressing our campaign over the coming weeks and have developed a supporting website and accompanying data room to provide prospective parties with key property and trading information. Please contact either Avison Young or Watling Real Estate for access to the online portal”.

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

The full list of pubs includes:

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