Christie & Co reduce asking price for popular Northumberland pub – the Three Horseshoes
Specialist business property adviser, Christie & Co has reduced the asking price for The Three Horseshoes, a popular family-friendly village pub located on Hatherley Lane, in the village of Horton nr Blyth, Northumberland.
Initially advertised for sale at £650,000, the sellers are now looking for just £495,000 as they wish to fully retire.
Featuring a large outdoor dining area and children’s playground, the Three Horseshoes is a great example of a community local and destination eatery. The business is positioned on a circa 0.75-acre site which is very easily accessible via the A189 and has become well known for its contemporary food menu, including an excellent Sunday lunch offering, along with a wide range of draught beers, popular with real ale drinkers.
Richard and Patricia Cavner have owned the pub for nearly 30 years and operated it themselves for a long time before granting a lease to the current tenant, who has enjoyed several very busy years there, but has decided to move on.
Richard and Patricia comment, “The Shoes is incredibly well known locally and has always had an excellent reputation. We thoroughly enjoyed running it ourselves all those years ago, but now in our seventies, we don’t want to do that now! It’ll be a great purchase for somebody and we hope whoever buys it enjoys owning it as much as we have.”
David Cash, Regional Director at Christie & Co who is handling the sale, also comments, “The owners have had interest from multiple local would-be tenants looking to take on a lease, but their intention is to sell the freehold. This could be an opportunity for an investor to further engage with prospective tenants. In turnkey condition, the pub could reopen immediately and benefit from all of the goodwill created and maintained over the past years.”
The pub is very easily accessible via the A189, providing superb transport links to the A19 and A1(M). Just 10.5 miles north of Newcastle upon Tyne city centre and only eight miles south of the affluent market town of Morpeth. Plessey Woods Country Park, Northumberland is a visitor attraction and Blyth beach are all very close-by, meaning the pub is a great choice for day trippers visiting the area.
The pub is now on the market on a freehold basis, with an asking price of £495,000.
For further information on this press release, contact:
Bronte Hughes, Corporate Communications Manager
P: 020 7448 8849 or E: bronte.hughes@christie.com
Contact the agent:
David Cash, Regional Director – Pubs & Restaurants North
P: +44 (0) 7736 621 023 or E: david.cash@christie.com
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