Member Article

Student watering hole in Durham snapped up in six-figure deal

A popular student pub which sits directly opposite Durham University has been sold to a local investor in a six-figure deal.

The New Inn, which was on the market for around £625k, has been snapped up for an undisclosed sum by property investor Andrew Ward who adds the Stockton Road pub to his portfolio of four Durham establishments including the Elm Tree, The Angel and The John Duck.

The traditional, mock Tudor-style pub has a screened external terrace and what is described as a ‘well-fitted’ lounge-style bar.

Following the sale, Peter Bartley of Bradley Hall, who represented the buyer, said: “This is a very prominent and well known property. It is a popular Public House for Students and local residents alike and provides a sound investment for my client.

“It adds to the owner’s growing pub portfolio which includes 4 others in Durham including The Elm Tree, The Angel and The John Duck in the centre of town.”

Leisure property firm Fleurets, who handled the sale, said that their had been ‘considerable interest’ in the pub, with offers received within hours of the business going on sale.

Enthusing about the public house’s close proximity to the university, Simon Hall at Fleurets commented: “The New Inn is a super Pub directly opposite the University.

“We were able to market it confidentially but still received considerable interest, with the first offers coming in within hours of going to the market. The final deal was agreed following a best & final offers process, and the sale was concluded with a minimum of fuss.”