A Seahouses harbourside pub has been snapped up by a growing Newcastle leisure company who beat a number of offers from rivals to secure the lease.
The Olde Ship Inn, known for its maritime memorabilia that celebrates the Northumberland village’s rich fishing heritage, was initially part of a farm and was first licensed in 1812.
The Glen family has been custodians of the inn since 1910 and have invested heavily into the pub, 12 guest rooms and a new beer garden.
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After developing the pub into a profitable business, the family wanted to step back from the day-to-day operations and seek a new leasehold operator to take the reins.
The Inn Hospitality Group, based in Newcastle, has now taken on the lease after being picked by the Glen family to acquire the business.
Previous operator Alan Glen said: “It is with a heavy heart that we hand over the keys to The Olde Ship, but the timing is absolutely right for us.
“The Ship has been in our family since 1910, with our daughter Judith and her husband David involved in running the business for the past 20 years. Needless to say, the decision to sell the business and lease out the premises was not one we took lightly! However, we’re looking forward to moving on to the next chapter in our lives, knowing the property is in the hands of very capable and trustworthy tenants.”
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Ollie Bennett and Matt Daniel of the Inn Hospitality Group, which also has the Percy Arms at Chatton, The Anglers Arms at Weldon Bridge and The Derwent Arms at Edmundbyers, said: “Businesses like The Olde Ship very rarely come to market, so when David approached us we jumped at the chance. We are absolutely thrilled to have been successful in what was a very competitive bidding process.
“Alan, David and Judith have put their trust in us as tenants to look after their property and we’re 100% committed to doing so. The Ship sits perfectly within the Inn Hospitality Group portfolio, taking us from one to four venues in our first 18 months of operation.
“The venue fits with our ethos of growing an estate of quality pubs with rooms in strong tourist locations, making it a fantastic venue to have on board as we aim to launch our group brand later this year.
“Seahouses has forever been phenomenally busy with tourists and with the pandemic reminding people of the beauty of the English coast and countryside we predict the demand is going to continue for years to come. Underpinning the tourist trade is a strong, loyal, local following and The Olde Ship is still very much a ‘proper pub’, an element of the business we feel strongly about preserving and nurturing.”
David Cash, director in Christie & Co’s Hospitality team secured the new tenant.
He said: “Given the quality of the business and the sought-after location, we were able to run an incredibly discreet and succinct marketing process which involved utilising our extensive network to approach only trusted and proceedable parties.
“This resulted in multiple, credible and acceptable offers being submitted within two weeks of going to market and our clients were able to carefully select whom they wanted to sell their business and grant a new lease to.”