Multiple pub premises to hit the market following administration
A portfolio of 25 pubs across Yorkshire and the North East is set to hit the market in the New Year after the business which owns the properties fell into administration this month.
Avison Young and Watling Real Estate have been appointed to market the premises by Ryan Grant and Howard Smith of Interpath Advisory, who are the joint administrators of Milton Portfolio Op Co 3 Ltd.
Peter Constantine, managing director of the Leisure team at Avison Young, said: “We are pleased 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, 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, said: “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 25 pubs comprise 21 freeholds and four long leaseholds.
The Yorkshire and Humber locations in the portfolio are: Lloyds Arms, Grimsby; New Inn, Wetherby; Old Courthouse, Barnsley; Porter Cottage, Sheffield; Priory, York; Red Lion, Wakefield; Sun Hotel, Shipley; Whistle Stop, Beeston, Leeds; and White Bear, Barnsley.