Lane7 bowling boss puts third pub on market after second site sale completes

03-Feb-2022 - Last updated on 03-Feb-2022 at 09:51 GMT

None to spare: Lane7 bowling boss Tim Wilks has put his third and final pub on the market

Related tags Property Finance Multi-site pub operators

Lane7 bowling alley owner Tim Wilks has put his third pub up for sale through estate agent Christie & Co to concentrate on his bowling business, having recently disposed of his second pub.

The Corner House, in Sedgefield, Stockton-On-Tees, which was formerly called the Black Lion, was acquired by Wilks in 2018 and has undergone a significant refurbishment. Internally, the pub is decorated in a modern and contemporary fashion while preserving some traditional pub features. The real hidden gem lies at the back, an enclosed courtyard leading through to a beer garden capable of hosting around 150 people.

The second site Wilks sold was the Pickled Parson pub, also in Sedgefield, which was purchased by a local businessman. It occupies a prominent, elevated position in the centre of Sedgefield and forms party of a long-established drinking and dining circuit, which is popular with locals, but also benefits from tourist trade.

Ongoing demand

David Cash, director at Christie & Co who handled the said: “We are delighted to have successfully sold the Pickled Parson on behalf of Tim to a local buyer. This is the second pub we have sold on his behalf – the other being the Fox Hole, Piercebridge, in 2019.

“The sale underlines the ongoing demand from buyers for good-quality licensed opportunities despite the challenges faced by the hospitality sector during the past 18 months. Christie & Co sold more than 350 hospitality businesses across the country in 2021 and activity is showing no signs of slowing down for this year.”

Exciting opportunities

With this sentiment in mind, coupled with the exponential growth of his core business, Lane 7, Wilks has now instructed Christie & Co to sell his last remaining pub – the Corner House.

Cash added: “While marketing the Pickled Parson, I was inundated with phone calls from people asking whether Tim would also sell the Corner House. At the time, it was his intention to retain this asset and continue to run it under management. However, some really exciting opportunities have been presented to Tim for Lane 7 and therefore it makes sense to exit the pub industry completely.

“We already have strong interest from local, regional and pub company operators as well as private individuals and expect more during the course of the marketing campaign.”