The sale of The Bolton Arms, an iconic country inn with a bar and restaurant situated in the heart of the Yorkshire Dales village of Redmire, has been completed.
Situated on the eastern edge of the National Park and near the famous Aysgarth Falls and Castle Bolton, the traditional Yorkshire Dales pub features a bar and restaurant for over 50 covers, a beer garden and five well appointed en suite lettings rooms, plus a two bedrooms owner’s flat.
Redmire and the surrounding towns attract visitors year round to the area’s stunning countryside and its many holiday cottages and bed and breakfasts. The Bolton Arms trades extremely well, with the added benefit of being the only pub in the village.
Following over seven years of ownership, previous owners, Bill and Janet Riding decided to sell in order to pursue retirement and other projects. They comment: “We had previously instructed another commercial property agent but didn’t have much interest. We knew that Christie & Co has had a lot of success in selling similar businesses so decided to instruct them. A great decision which led to us having the choice of more than one buyer, meaning we got best price for our business.”
New owners, Martin and Stef Bellerby currently reside in Abu Dhabi but both hail from Yorkshire. They are planning a move back to the UK with their young family and identified The Bolton Arms as their dream business. Martin and Stef have family who are vastly experienced in the licensed trade and will be helping with the running of the business alongside the existing team of staff. The plan is ‘business as usual’ – the Bellerbys bought The Bolton Arms because they loved it and see no need to change anything at this moment in time.
They comment: “To many, The Bolton Arms would be deemed simply a humble village pub, but for us, it’s far from that. We looked at lots of options when we decided to buy a pub and by far and away The Bolton Arms was the one we wanted! We’re delighted to be the new owners and look forward to welcoming customers old and new.”
David Cash, Senior Business Agent at Christie & Co, handled the sale: “The sale of The Bolton Arms proved to be particularly complex for a number of reasons and it was a real team effort to get the deal over the line. Our marketing efforts attracted multiple bids. highlighting the desirability of this type of asset. Considering the popularity of the staycation, letting rooms and a quality food & beverage offer will continue to be key sources of income in the pubs industry. Demand for North Yorkshire pub businesses is further reinforced by the sales of The Crown Inn in Roecliffe and The Nags Head in Pickhill near Thirsk, both of which changed hands earlier this year.”
The Bolton Arms was sold off a guide price of £545,000 for the freehold interest.