North East Connected

South Shields pub lease for sale as owners retire

Morgan's Hi ResMorgan’s pub in South Shields has been brought to the market by specialist business property adviser, Christie & Co.

The current operators have owned the well-established business for 15 years and now wish to sell due to retirement.

The pub, formerly known as The Lord Ashley, sits on a corner site in a highly visible location in the town next to a new housing development. It underwent an extensive refurbishment in December 2015 but still retains some of its traditional features.

A corner bar servery overlooks the main trading space and there is also a raised seating area which is ideal for dining. On the first floor, there is a well-presented function room/lounge with table and chair seating and a large catering kitchen means that a food offering could easily be introduced.

The second floor contains former owners’ accommodation which has been converted into a workspace by the present owners; however this could be easily converted back into living accommodation if required.

David Cash, Business Agent in Christie & Co’s Newcastle office who is handling the sale, comments, “Morgan’s presents a fantastic opportunity for an owner-operator to take over this tenant-friendly lease, which is importantly free of any brewery or pub company tie.

“The business is well-established in the town, and is supported by local residents and well as a number of sports teams in the area. Although the pub has been built up and run well, there is always scope for a new tenant to put their own mark on things.”

Morgan’s is available on a leasehold basis at an asking price of £65,000, with an annual rental of £27,000 + VAT.

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