Sixteen pubs have gone up for sale in the North East, Northumberland and North Yorkshire after the company behind the venues collapsed and administrators brought in.
Milton Portfolio Property 3 Limited, which owns 25 pubs in the North of England, 16 of which are in the North East, North Yorkshire and Northumberland, were in jeopardy of closure after it was announced earlier this year that they'd collapsed.
Despite the 264 staff who work across the 25 venues being kept on throughout the issues, it has now been announced that all of the venues in the Milton Portfolio Property 3 Limited stable will be sold.
Avison Young and Watling Real Estate have been appointed to market the licensed premises by joint administrators Ryan Grant and Howard Smith of Interpath Advisory.
Peter Constantine, managing director of the Leisure team at Avison Young, 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.”
Emma Turnbull, associate director at Avison Young, said in a statement: “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, added: “The joint administrators continue to trade all 25 pubs while we seek a buyer for the business and its assets."
The list of pubs involved in the North East, North Yorkshire and Northumberland includes:
- Black Bull, East Boldon
- Black Bull, Morpeth
- Britannia, Houghton-Le-Spring
- Cross Keys, Washington
- Dirty Habit, Whickham
- Dirty Habit, Whitley Bay
- Elephant, Ashington
- Greens, Sunderland
- Guide Post Inn, Springwell Village
- Lambton Arms, Chester-le-Street
- Millstone Hotel, Gosforth
- Prior, Doxford Park
- Priory, York
- Ship & Royal, South Shields
- Smiths Arms, Billingham
- Victoria, Whitley Bay
Comments: Our rules
We want our comments to be a lively and valuable part of our community - a place where readers can debate and engage with the most important local issues. The ability to comment on our stories is a privilege, not a right, however, and that privilege may be withdrawn if it is abused or misused.
Please report any comments that break our rules.
Read the rules hereLast Updated:
Report this comment Cancel