The building, bought by Andrew Ward from Wetherspoons two years ago, has a guide price of £4m.
A historic Newcastle city centre pub is back up for sale two years after it was snapped up from leisure giant Wetherspoons by a North East entrepreneur. Union Rooms operator JD Wetherspoon initially put the prominent 19th-century building on Westgate Road up for sale in May 2016, as part of a portfolio of 45 of its UK properties and just months after acquiring it from a Danish investment group for £5.6m.
The five-storey property was then bought by property entrepreneur Andrew Ward, triggering new investment in the building.
While Mr Ward owns the building, it has been operated for some time by Cyclone Leisure Group, also owners of the San Lorenzo restaurants, who last year unveiled sweeping changes to the Union Rooms, including a new pizza restaurant, garden room and sports room.
Now Mr Ward – who already owns a number of pubs in Durham, as well as Workwear Express, employing more than 160 people in Belmont, Durham – has put the building up for sale, saying he is looking at diversifying his portfolio which will allow this asset to change hands.
It is now on the market through North East property firm Bradley Hall with a guide price of £4m.
Nicholas Bramwell, senior surveyor at Bradley Hall said: “Buildings of this magnitude and calibre don’t come on the market very often in Newcastle and as such command a premium as a result.
“This investment is made particularly interesting by its potential to develop the upper floors, the completion of which is likely to have a substantial, positive impact on an already attractive income. “Union Rooms is situated in an unrivalled location with Newcastle Central Station and its metro station close by. It is also surrounded by other established operators and popular destinations for locals and visitors alike, which ensures a high footfall in the area.”
The grand Grade II listed building at the bottom of Westgate Road dates back to 1877 and was a gentlemen’s club called the Union Club for almost 100 years. Among its famous members was WG – later Lord – Armstrong, the 19th-century Tyneside engineer and industrialist.
Thanks to the Journal and Chronicle for the original story which can be found here https://www.business-live.co.uk/commercial-property/newcastles-union-rooms-back-up-16742651
