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27 September 2019 | Pubs

Substantial pub restaurant in North Yorkshire sold to national pubco

Specialist business property adviser, Christie & Co has sold the Derwent Arms, a substantial pub restaurant in the town of Norton, close to Malton, North Yorkshire.

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Operating from a three storey, end of terrace property, the pub comprises a bar and dining area for up to 36 covers and a separate games area with a dartboard and pool table, plus a stage for live music performances. Additionally, the first floor provides self contained four bedroom owners’ accommodation and additional space on the second floor, which could be converted into letting rooms, subject to planning permission. 

Externally, the site, which is almost half an acre in size, offers picnic table seating to the front and covered patio decking seating to the rear, plus extensive customer car parking for up to 40 vehicles. 
The Derwent Arms has been sold to well-known national pub operator Punch Taverns, who intend to add it to their extensive portfolio of successful, local pubs.

Owners, John and Sheila Rushworth have been at the helm of the pub for 18 years and decided to sell the Derwent Arms so they can retire and comment, “We loved running the pub and will miss our customers immensely.  We have now moved into our new home and are very much looking forward to our retirement.  We would like to thank Christie & Co for all of their help and patience during the time it took to complete on the sale, we would have found the whole process very stressful, but the team were always on hand, even out of hours to guide us through.”

Matt Hendry, Business Agent at Christie & Co, handled the sale and comments, “This is another example of a quality village pub achieving a very good price in the current market.  We have seen high levels of interest in pubs with rooms, or with the potential to incorporate rooms.”

The Derwent Arms was sold freehold off an asking price of £699,950.