Specialist business property adviser, Christie & Co has sold the Punch Bowl Inn, a well-known gastro pub-restaurant in Cleethorpes, for the first time in 34 years to Lancashire-based pub company, Trust Inns.
The Punch Bowl Inn is a popular venue amongst locals and visitors of the North East Lincolnshire seaside town and has hosted many events and weddings over the years. The pub is located along the town’s North Promenade and features a 120-cover bar and restaurant, an entertainment area with a pool table and a large function room.
The previous owners, Bernard and Sheila Stafford can now retire following the successful sale. They said: “After nearly three and a half decades, we felt the time was right to retire and allow for younger blood to invest further in the pub and begin a new chapter.
“The Punchbowl has been a huge part of our lives and we’ve had many fantastic years here. We really enjoyed owning the business and would like to thank all our loyal customers for their support, especially throughout such a tough final period, with the COVID-19 pandemic.”
The Punch Bowl Inn will now join Trust Inns’ estate of over 500 pubs across the UK and will be run as a managed house investment.
Mark Brown, Managing Director of Trust Inns, said: “We’re very glad to be adding The Punch Bowl to our expanding portfolio in Yorkshire. Our broker, Sam Ashton – senior business agent at Christie & Co was a pleasure to deal with and we’re excited to be taking advantage of the coastline tourism trade here.”