Pubs in Ashington, Morpeth and Whitley Bay put up for sale by joint agents on behalf of administrators

Milton Portfolio Op Co 3, which owned Ashington’s The Elephant, The Black Bull in Morpeth, and Whitley Bay’s The Victoria and Dirty Habit, entered administration on November 17.

Following the appointment of joint administrators Ryan Grant and Howard Smith of Interpath Advisory, Avison Young and Watling Real Estate were chosen to market the portfolio of 25 North East and Yorkshire pubs.

The widespread marketing campaign has started this week, with the joint agents stating that the pubs have remained open following the appointment and have benefited from a busy trading period over the festive season.

Emma Turnbull, associate director at Avison Young’s Newcastle office, 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.”

Alex Sweetman, director at Watling, added: “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.

“Please contact either Avison Young or Watling Real Estate for access to the online portal.”

The joint agents welcome all offers – particularly for the group as a whole, but they will also consider offers for smaller packages or individual sites.