North Yorkshire has long-been considered a tourism hotspot for British holidaymakers and its popularity has only increased as a result of the COVID-19 pandemic and international travel restrictions. The recent surge in pub sales suggests North Yorkshire remains an attractive option for investors who see a robust future for the ‘staycation’ market, as well as lifestyle buyers looking to relocate to the north.
The first sale to complete was The Woodman Inn
, a popular village pub with six letting rooms, situated in the attractive village of Burneston nr Bedale, which is ideally positioned to capture tourists visiting the Yorkshire Dales and North York Moors National Parks. The property was offered as a turnkey opportunity following an extensive refurbishment by the previous owners. The pub has been purchased by Ted Peary, a retired newsagent who will run the business in partnership with family, who have licensed industry experience.
The Woodman Inn
Shortly afterwards, the The Haynes Arms
, a closed pub located next to the A19 in Kirkby Sigston, north Northallerton, was sold to a private individual who has family ties to the area and is considering various options for the site. Prior to closing, the business had a fantastic reputation as a food-led country pub and more recently a pre-planning application has been made to introduce glamping and caravans on the 3.89 acre site.
The Haynes Arms
Within quick succession, the team completed on the sale of the former Plum & Partridge
, a recently refurbished coaching inn, comprising a pub & restaurant and nine letting bedrooms, located in the affluent village of Husthwaite. Surrounded by key tourist attractions such as the North York Moors National Park, the Howardian Hills AONB, the property was an attractive opportunity. The successful purchaser was Phil Bleakley, owner and operator of York Marina who intends to reinstate the Plum & Partridge name and work closely with immediate family to operate the business.
Plum & Partridge
Following this, The Inn at South Stainley,
a former Seafood Pub Company site was bought by Graham Usher of MATTGRAY Hospitality, an industry consultant and expanding, regional multi-operator who runs two other sites near York; The Drovers Arms at Skipwith and The Castle Inn at Cawood.
The Inn at South Stainley
Most recently, The Aldwark Arms,
a traditional village pub-restaurant with a large trade garden and planning permission for five letting units was purchased by Warren Taylor & Sue Beasley. Warren and Sue set their eyes on a move to the UK from South Africa more than a year ago when they made an offer on the business. The pandemic presented a huge challenge, but the persistence and resilience of the buyer, seller and all professionals working on the deal meant that it reached a satisfactory conclusion.
The Aldwark Arms
The five deals were all brokered by David Cash, Associate Director and ‘Pubs & Restaurants Business Agent of the Year’ for 2020 in Christie & Co’s Hospitality team.
David comments, “I am delighted to have brokered all of these deals on behalf of our clients, which come off the back of a very busy second half of 2020, where we completed on The Farmers Arms at Muker and The Holly Hill at Richmond and The General Tarleton at Ferrensby, more great examples of North Yorkshire country pubs and inns.
“Last year was of course dominated by the pandemic and the challenges it brought to all of us, particularly the hospitality sector, and this remains the case in early 2021. You could be forgiven for assuming therefore, that the market has been depressed and stagnant, but this is not the case. Buyers recognise that despite the challenges, the medium- to long-term outlook for the industry is healthy and hospitality has a positive future.”
Demand truly is outstripping supply for good hospitality businesses at present and North Yorkshire is proving to be a hot-bed of activity, particularly for properties with letting accommodation. Business operators considering a sale are encouraged to get in touch to take advantage of such a strong market.
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