Village pub bought and set for refurbishment by County Durham couple
A VILLAGE pub has been sold to a County Durham couple who hope to refurbish it and find a tenant.
The pair, who have little experience in the pub trade, have bought The Burn Inn in Willington, near Crook, which was on the market for £130,000.
Mark Worley, of Christie + Co in Newcastle, handled the sale and said it was encouraging to see people from outside the industry looking to invest.
“It is always very encouraging to see pubs sell for on-going use and in particular to local buyers,” he said.
“What makes this transaction even more pleasing is the fact that despite a degree of negative public perception about the current state of the pub market, we have sold the business and premises to someone from outside the sector who is willing to invest their money in the future of the pub and the licensed industry in general.”
Mark said the couple see the detached public house, which has a lounge/bar, conservatory, beer garden and owners accommodation – and was on the market for a reduced asking price of £130,000 – as an investment.
They intend to refurbish the pub at their own expense and then seek a tenant on a free of tie basis.