The Head of Steam, one of Newcastle's best-known bars, is still on the market with its asking price now reduced to £450,000. No buyer has come forward since it was first listed earlier this year.
The venue opened on Neville Street in January 1996 and quickly became a popular spot for live music, drawing in both locals and visitors. Over the years, the bar has kept its original charm while many other city-centre pubs have closed or changed hands. The basement has been a regular venue for both emerging and established acts.
Sale details and price cut
Owner Camerons originally put the bar up for sale in February with a freehold price of just under £500,000. Two other venues were included in the same sale: The Wheelhouse in Washington at £275,000 and The Mitre in Bishop Auckland at £350,000.
Now, six months later, The Head of Steam is still being marketed by Christie & Co. Described as a great opportunity for a new owner, the listing highlights the bar's prominent position opposite Newcastle Central Station, with strong footfall from the station and the surrounding hotels, offices and hospitality businesses.
Quayside venue still thriving
While the Neville Street bar remains up for sale, the other Head of Steam on the Quayside, which opened nearly 20 years later, continues to prove popular.
