A riverside pub and brewery in Newcastle has been sold to a rapidly expanding hospitality firm.
The Keelman and Big Lamp Brewery in Newburn was initially listed for sale six years ago, but the two businessmen running the pub-with-rooms and brewery later withdrew it from the market, opting to continue managing the venture.
However, in February, they decided it was time to retire from the popular bar and brewery, initiating a search for new proprietors. Birmingham-based Valiant Pub Company, founded in 2021 by Hawthorn Leisure co-founders Gerry Carroll and Mark McGinty, has now acquired the business, making The Keelman its 71st venue.
This acquisition also marks the third North East pub to be purchased recently by the company, joining The Heart of Northumberland and The Railway, both located in Northumberland. The transaction for The Keelman was facilitated by specialist business property adviser Christie and Co, which marketed the property for £995,000.
The pub and restaurant is situated in the Tyne Riverside Country Park on the banks of the River Tyne at Newburn, approximately six miles from Newcastle city centre. Its name pays homage to the River Tyne boatmen of the past – the men who laboured on the keels, large boats that transported coal from the banks of the Tyne and Wear rivers to the awaiting collier ships.
The Big Lamp Brewery, which was established back in 1982, is well-versed in supplying fine ales to pubs across the º£½ÇÊÓƵ. Its output stands at approximately 40 barrels per week, of which around a third satisfy the demand at The Keelman’s own bar.
The pub and restaurant segment offers seating for around 100 diners and boasts additional features such as a mezzanine level used for private functions and events, as well as a substantial conservatory that looks out over a patio. With Valiant pub company's acquisition, The Keelman’s hospitality offerings have also expanded to include accommodation through Keelman’s Lodge and Salmon Cottage, which together contribute 14 bedrooms spread over two establishments within the premises.
Keelman’s Lodge comes with six en-suite family rooms, while Salmon Cottage offers eight en-suite letting rooms featuring king-sized beds and Juliet balconies. Valiant is on a trajectory to cement its foothold in the North West, Midlands, Wales, and North East; its turnover saw an impressive increase from £8.3m to £18.2m as noted in the most recent accounts.
David Cash, regional director at Christie and Co overseeing pubs and restaurants in the North, added: "The Keelman and Big Lamp Brewery is an institution on Tyneside and there aren't many people who are unfamiliar with the site and their products. It is incredibly rare that a business is owned and operated by the same landlords and tenant partnership since inception, and I am proud to have helped facilitate their hard-earned retirement."
"We are also delighted to have helped Valiant Pub Company strengthen their presence in the North East – they have bought The Heart of Northumberland, Hexham and The Railway, Blyth through Christie and Co and have other acquisitions in the pipeline due to complete in the coming weeks."
Hay and Kilner and Gosschalks LLP were also involved in the acquisition.
