In County Durham, three pubs have gone up for sale after a pub group went bust. 

The Milton Three Pubs Group/Wear Inns Pubs appointed administrators late last year after collapsing with a budget deficiency of £8.1 million. 

Of their 25 pub portfolio, three are in County Durham and are up for grabs from Avison Young and Watling Real Estate. 

Following the appointment of joint administrators Ryan Grant and Howard Smith of Interpath Advisory to the Milton Portfolio Op Co 3 Ltd in November last year, joint agents have this week launched a widespread marketing campaign for the 25 pub portfolio.

The pubs have remained open following the appointment and have benefitted from a busy trading period over the festive season.

The agents report a significant level of interest from national, regional and individual operators in response to the widely publicised appointment of administrators. 

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.”

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, 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."

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The pubs for sale in County Durham: 

  • Lambton Arms, Chester Le Street
  • Ox Inn, Oxhill
  • Smiths Arms, Billingham