LGT Developments bosses Tony and Lorraine Griffiths are putting The Point in Park Lane up for sale and have also agreed a deal for ttonic in Vine Place and Chaplins in Stockton Road in order to take early retirement.
The 2,600-capacity The Point has already been listed with estate agent Christie and Co.
Tony, 51, said the couple had decided to stand back after a tough couple of years and make the most of their hard work over more than 50 years combined in the leisure sector.
Most Popular
-
1
Sunderland institution The Old Vestry still going strong as it serves up new menu
-
2
New exhibition raises a glass to the colourful history of Pyrex in Sunderland, one hundred years on
-
3
Meet the new Top Model of Sunderland as she lifts the crown at annual contest
-
4
Everything you need to know about Sunderland's Summer Streets as family festival returns this weekend
-
5
'Decadent' new Sunderland burger named after Edwardian architect part of new food offering at The Peacock
"We have worked for 26 years in the hospitality sector in Sunderland – 19 together – and we have had some amazing highs and a few lows in those years,” he said.
"We have decided now is the time for us to plan our exit strategy whilst things are going well and take early retirement.”
The couple have made their 100-plus team aware of their plans and Tony believes the three venues will continue to thrive in new hands.
"Sunderland is currently going through a massive regeneration phase and The Point is in the middle of Sunderland city centre and will benefit the whole city for years to come under new ownership,” he said.
“The team we have at The Point are fantastic - we have made them aware about what we are planning and they are happy to remain in place to help the new owners take The Point to another level,
"We have spent a lot of time and a lot of money getting it to where it is currently and we just feel the time is right to let it benefit from new owners.
“We are also planning to sell ttonic and Chaplins to our managing director Andrew Golding once The Point has been sold and he will obviously keep those fantastic teams of people in place to help him keep them running the way they have been for the last few years.
“We love Sunderland and will always have a home here – but we want to spend a few years travelling the world and enjoying ourselves without the strains and stresses that come with employing over 100 people and running several businesses.”
