Pub market sees surge in North Yorkshire
The Buck Inn in Thornton-le-Dale near Pickering, North Yorkshire has been brought to the market on a leasehold basis by specialist business property adviser, Christie & Co.
Christie & Co has seen a rise in activity in the North Yorkshire pub market in the first half of 2016, overseeing the sale of many out-of-town pubs in the area including most recently The Fleece in Bishop Wilton and the Woodman Inn located in Burneston.
In a recent survey conducted by Visit England, the North Yorkshire coast was ranked the most visited destination for British holidaymakers, second only to London. The rise in tourism has undoubtedly brought about a rise in demand from operators looking to purchase a traditional country pub within a heavily growing market.
Furthermore, Yorkshire’s Favourite Pub 2016, an annual contest run by Welcome to Yorkshire, has seen a record of 10,000 public votes being cast this year alone, demonstrating an increase in interest in the industry from locals too.
Oliver Brown, Licensed Business Agent at Christie & Co’s Leeds office, comments, “We’ve seen sale prices and volume of sales increase significantly over the past few years in the pub sector. Banks are now regularly lending on these businesses and we’ve found great success this year in pairing experienced operators who want to expand with new business opportunities.”
The Buck Inn comprises a lounge and bar area, a restaurant which serves locally produced food, and three ensuite letting rooms as well as two large attic rooms, currently unused but which could be converted into further accommodation. To the rear of the property there is a car park, a beer garden, and a large brick-built barn which currently houses the cellar, workshop and storage space. It also has on-site owners’ accommodation which includes three bedrooms, an office, a lounge, a kitchen, and two bathrooms.
Oliver Brown adds, “North Yorkshire is the focal point of the Yorkshire market with values here having bounced back faster than in the rest of the region.
“The Buck Inn represents the quality of opportunities available, as a site with a great food offering, letting rooms and accommodation for a very reasonable price. We expect to see a high amount of interest.”
The leasehold on The Buck Inn is available for an asking price of £55,000.