Ross Park owners clinch major North Down pub deal

THE owners of the Ross Park Hotel in Kells have bought three of the best known pubs in North Down in a deal worth almost £3 million.

The Carmichael Group will assume the day-to-day running of The Bryansburn in Bangor, whilst The Stables in Groomsport and The Esplanade in Ballyholme will continue to be run by their existing tenants.

The Carmichael Group had sold the majority of its portfolio, which included The Stables and The Bryansburn in 2006.

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The purchase of the three pubs in North Down seesm to demonstrate the Carmichael Group’s aspirations to reinvest in the hard hit pub sector.

Mr. Ian Carmichael said: “We are very pleased to add the three pubs to our porfolio and to have the support of Ulster Bank to do so. With the bank’s backing and expertise, we are confident we can add further value to these landmark businesses.”

Ulster Bank corporate banking manager Gordon Davidson says that the purchasers saw an ideal opportunity to re-enter the sector in a significant way.

“The Carmichaels have an excellent track-record in the sector, having successfully built and run some of Northern Ireland’s leading pubs, including Morrison’s, over many years, and we are pleased to support this important deal,” he said.