Administrators have put a £250,000 price tag on a trouble-hit luxury Tyneside bar complex.

Newcastle’s @Home bar was placed under the administration of accountants Grant Thornton earlier this month after the three-storey venture on Newcastle’s Mosley Street hit a financial crisis just 16 months after it opened.

Former airline pilot Mark Gillon and his business partner Fiona Dobbing ploughed £1m into the conversion of the one-time life assurance building.

When @Home opened in August 2004, they admitted their “luxebar” was aimed squarely at the “upper end” of the market.

Within the building is an open-plan ground floor bar with capacity for around 200 people and a second bar area on the ground floor above.

The venture – which operated under the business name Epitome Leisure – also owned and ran the 70 cover Establishment restaurant in the building’s basement. This is not included in the sale.

The free-of-tie lease runs until 2024 and is being offered at £250,000.

@Home bar website >>

By Cliff Goodwin

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