North York Moors pub sold in £400,000 deal

PROPERTY firm Colliers International has secured the sale of the White Swan Inn in Newton-on-Rawcliffe in North Yorkshire for over £400,000.

Located in the heart of the North York Moors National Park, The White Swan was acquired by an Oldham couple who are new to the licensed trade.

Steve and Linda Green from Oldham bought the White Swan from Lynne Duffey, who has been running the pub alongside her daughters for several years following the loss of her husband.

Leigh Parsons, director in Colliers International’s Leeds Licensed and Leisure team, said: “The White Swan offers great business potential.

“There is huge scope to increase opening hours and in turn revenue. Couple this with the potential to provide letting accommodation and further develop the outbuildings, there is enormous scope for the owners to build on the business’s already excellent local reputation.

“The new buyers Steve and Linda are new to the pub trade, with Steve giving up his job in construction to take on this new venture. In fact, we are seeing a trend in couples making a complete change in career to invest in this type of business.

“Investing in lifestyle businesses like B&Bs, pubs and hotels is already a popular notion with couples in their fifties and sixties and, with major reforms to the pension system coming in to effect from April 2015, whereby over 55s are able to access their entire pension pots, we expect to see this trend increase further as people acquire the means to make the same leap into a career which ideally balances an investment business with a new lifestyle.”