16 North East and Yorkshire pubs saved from closure after operator buys venues

Sixteen pubs in the North East and Yorkshire have been saved from closure after they were bought by a main venue operator.

At the end of last year, 25 pubs in the region were put in jeopardy after pub owner Milton Portfolio Property 3 Limited went into administration.

Despite each of the venues continuing to trade during the administration, uncertainty surrounded the pubs coming into 2024.

However, it was confirmed on Thursday (April 30) that Punch Pubs & Co has completed the acquisition of the Milton 3 portfolio - which includes the 16 in the North East and Yorkshire, alongside eight additional ones in other parts of England.

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The pubs are located in the North East and Yorkshire, including the Lambton Arms, Chester-le-Street, the Smiths Arms, Billingham, and the Cross Keys, Washington.

Punch Pubs & Co CEO Clive Chesser said: “We are delighted to have acquired these excellent pubs, and we are excited about the future as we welcome them into the Punch family.

“I would especially like to thank Kamran Aziz and the Queensway Advisory team, who continue to provide their management services as the pubs and their teams transfer into the Punch business.

“With the help of our industry-leading investment and support, we will ensure these pubs remain at the heart of their communities and continue to thrive for many years. We are looking forward to providing further updates as our plans progress.”

Ryan Grant, Managing Director at Interpath Advisory, who oversaw the sales process, said: “We are delighted to have reached this agreement, which will see this portfolio of highly profitable, strong performing and established pubs move into new ownership. We would like to thank the many stakeholders who have supported us throughout this process, including all those who assisted in the trading of the venues while the sales process was ongoing. We look forward to seeing Punch take the pubs from strength to strength.”

Peter Constantine, the Managing Director of the Leisure team at Avison Young, commented: “I am delighted that the sale of these excellent community pubs has been completed, and I am sure they will prosper within the Punch portfolio. The sale attracted substantial national interest, which highlights the demand for good quality pubs.”

The list of pubs that have been taken over in the North East, Yorkshire and Northumberland:

• Black Bull, East Boldon

• Black Bull, Morpeth

• Britannia, Houghton-Le-Spring

• Cross Keys, Washington

• Dirty Habit, Whickham

• Dirty Habit, Whitley Bay

• Elephant, Ashington

• Greens, Sunderland

• Guide Post Inn, Springwell Village

• Lambton Arms, Chester-le-Street

• Millstone Hotel, Gosforth

• Prior, Doxford Park

• Priory, York

• Ship & Royal, South Shields

• Smiths Arms, Billingham

• Victoria, Whitley Bay