Punch Taverns, the UK’s largest landlord, has completed a deal to buy five community pubs in the North East for an undisclosed sum.

Punch saw off stiff competition to secure the sites from Newcastle based Sir John Fitzgerald Ltd.

Located across County Durham, Tyne and Wear and Northumberland, the five pubs are: 

• Hilltop, East Street, Stanley
• Old England, Front Street, Great Lumley, Chester Le Street
• Potters Wheel, Sun Street, Sunniside
• Spartan, Twelfth Avenue, Blyth
• Steps, Spout Lane, Washington

Formerly managed house operations, each pub will now convert to Punch’s leasehold business model with the current managers entering into long term lease agreements with the pubco.

James Boshier, Punch’s acquisitions manager for the North East region, said: “It is extremely rare for a small group of pubs of such quality to come to the market and we are delighted to be the successful bidder.

“All the pubs are excellent businesses in their own right and we look forward to working with our new retailers to develop them further.”

Rob Godwin-Bratt, the company’s development director, added: “This deal sends out a clear message that despite completing a major pub chain purchase three months ago – the Spirit Group and its 1,800 pubs – we are still committed to individual and small package acquisitions.

“Not counting Spirit, we have acquired 57 pubs so far this financial year and expect to exceed 100 new sites by August.  It is very much business as usual for our acquisitions team.”

The Sir John Fitzgerald pubs were marketed on a confidential basis by the Leeds office of Fleurets.

Simon Hall, divisional director, said: “We were very pleased with the levels of interest this package of pubs created and wish Punch and their new lessees a successful future.”

Punch Taverns owns 9,600 leased, tenanted and managed pubs across the UK and around 480 in the North East.

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For further information please contact Nick Trueman or Jo Mathers at Seal Communications on 0121 200 0780