Sun, 17 Mar 2019 | BUSINESS SALE
The Lambton Worm and The New Plough pubs in County Durham have been put up for sale by leisure group Tavistock.
The decision to sell the pubs has been triggered by the company’s strategy to focus on its brewery operation and gin distillery business.
The brewing business S43 is gaining favour amongst beer connoisseurs as it expands from its traditional cask ale range to new American craft brews.
Its Poetic License Distillery has been similarly innovative in the gin market, launching several new distinctive gin flavours and brands over the past two years.
Tavistock Managing Director said, "Having decided on a shift in strategy, we are looking to reduce the number of outlets we have in the portfolio. Whilst we are disposing of good, profitable properties, it will free up valuable management time and resources for the expansion of both our distilling and brewing operations."
The New Plough in Burnopfield is a modern freehold pub and 70-cover restaurant with open-plan trading areas, decorated in a rustic manner. It is being marketed at a price of £450,000 by Christie & Co. Burnopfield is about 10 miles from Newcastle upon Tyne and 15 miles from Durham.
The Lambton Worm in Chester-le-Street is a boutique hotel with 14 en-suite bedrooms. It has a separated restaurant area and a lounge bar with live music. The hotel and restaurant have combined seating for 140 covers. The hotel is for sale at £900,000 freehold.
Both pubs have been recently refurbished and are trading profitably.
An excellent opportunity exists to purchase the business and assets of a well-established festival business that has built up a successful annual festival in the South East of England. Offers invited.
LEASEHOLD
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