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08 January 2018 | Pubs

The Blacksmiths Arms sold to local operator

​The Blacksmiths Arms in the North Yorkshire village of North Cowton near Richmond has been sold through specialist business property adviser, Christie & Co. The sale was bank funded, demonstrating the appetite for lending on commercial licensed premises.

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The Blacksmiths Arms is a traditional pub and restaurant formerly run by Kevin and Francis Hacking. It has now been sold to a local operator who has another successful pub and restaurant business nearby.

At present there is a main bar and lounge area, as well as a well-presented dining conservatory with beer terrace and parking for 30 vehicles to the rear, though the new purchaser’s plans are to completely refurbish the pub and re-open under a different name.

David Cash, Business Agent at Christie & Co’s Newcastle office comments, “This sale is a great example of an established and successful operator progressing to buy a second business. There are many multi-operator buyers looking to expand their existing portfolios in todays market.”

The Blacksmiths Arms was sold off an asking price of £199,950.