Tenancy of a popular North East pub is up for grabs
Pub chain giant Greene King is searching for someone to takeover the tenancy of the Cumberland Arms in Tynemouth.
The arrangement will give someone the opportunity to rent the pub from Greene King for an agreed period.
The pub, which is on Front Street in Tynemouth, is described by the brewer as a “great pub business, inside a lovely old building”.
Greene King has confirmed that the annual rent for the venue is £45,750, which works out to be £880 a week.
Greene King’s website states: “The Cumberland Arms is a great pub business, inside a lovely old building. The pub trades at a 60/40 split in favour of food.
“The site is situated on a busy street in the centre of town, meaning there is plenty of footfall at all times of day and plenty of scope to improve volume and food sales.
“The pub was refurbished within the last two years and is a great venue for the locals to enjoy. Great standards, quality products and a competitive offer will be key to stand out from the crowd.
“The site is popular with both locals and tourists and Tynemouth is known for its beautiful coastline and flamboyant high street.”
Kevin Shears, business development manager at Greene King, has revealed that he is looking for someone with a knowledge of the North East to take over the popular venue.
He said: “I am seeking an experienced operator with a knowledge of offering upper middle market food and excellent local knowledge.
“You have the opportunity here to create a unique customer experience.”
You can find out more about letting the Cumberland Arms by clicking here.
Read South Tyneside’s news on the go with our free email newsletters - bringing the headlines to your inbox. Catch up on the day’s news and sport and enjoy even more from your Gazette. Visit our website here to find out more and sign up.