Member Article

Newcastle Quayside's Pitcher and Piano on the market

Prominent Newcastle Quayside bar The Pitcher and Piano is on the market for potential investors, at £6.6 million.

The building is currently leased to brewers Marstons PLC and this agreement will be renewed for a further 35 years.

It is one of 18 Pitcher and Pianos in Marston Group’s portfolio and generates an annual rental income of £350k.

Los Angeles-headquartered property firm CBRE have been instructed to sell the property which was refurbished to the tune of £350k in March 2013.

Senior director of CBRE’s National Specialist Markets team, Andrew Watt, said: “This represents a unique opportunity for an investor to acquire a high profile investment with strong, long-term rental returns.

“The whole Quayside area of Newcastle has undergone a renaissance of regeneration and its popularity continues to rise. The Pitcher & Piano is an established leisure destination and we anticipate very high levels of interest.”

This was posted in Bdaily's Members' News section by Tom Keighley .