A portfolio of 25 pubs located across the North East and Yorkshire has been put on the market by administrators.
Ryan Grant and Howard Smith of Interpath Advisory were appointed joint administrators to the Milton Portfolio Op Co 3 Ltd in November last year. The pubs remained open following the appointment and reported a busy trading period over Christmas and new year.
Emma Turnbull, associate director at Avison Young’s Newcastle office, which has been appointed to market the portfolio with joint agents Watling Real Estate, 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, said: “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.”
