The joint administrators of Milton Portfolio Op Co 3 Ltd have appointed agents to market the 25 pub portfolio.
The portfolio of 25 pubs across the North-East and Yorkshire is set to hit the market in the New Year.
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, 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 are located across the North-East and Yorkshire, and comprise 21 freeholds and four long leaseholds.
The full list of pubs includes:
Black Bull, East Boldon
Black Bull, Morpeth
Britannia, Houghton-Le-Spring
Cross Keys, Washington
The Crown, Wickham
Dirty Habit, Whitley Bay
Elephant, Ashington
Greens, Sunderland
Guide Post Inn, Springwell Village
Lambton Arms, Chester Le Street
Lloyds Arms, Grimsby
Millstone Hotel, Gosforth
New Inn, Wetherby
Old Courthouse, Barnsley
Ox Inn, Oxhill
Porter Cottage, Sheffield
Prior, Doxford Park
Priory, York
Red Lion, Wakefield
Ship & Royal, South Shields
Smiths Arms, Billingham
Sun Hotel, Shipley
Victoria, Whitley Bay
Whistle Stop, Beeston
White Bear, Barnsley