A three-star boutique hotel on Tyneside has secured a sale entirely off market, thanks to its strong local reputation making it an attractive business to buy.
Eslington Villa has been sold to Nicky Tucker and Jim Johnson, after the Low Fell local couple become interested in the 18-bedroom property thanks to the advice of Mark Worley director at Christie + Co.
The 19th century building offers a dining conservatory overlooking two acres of wooded and lawned grounds, a lounge/bar and a function room, alongside the 18 bedrooms.
The sale marks the end of an era for previous owners, Nick and Melanie Tulip, who have built up the business considerably since the 1980s. Having initially been apprehensive about selling, they are now moving on having found the right buyer.
Nick Tulip comments: “For some time now, Melanie and I have considered moving on, and the fantastic team we have in place allows the business to largely run itself. We have a long-standing relationship with Mark Worley at Christie & Co, who comes to see us regularly to update us on the market and, in the course of these meetings, we made Mark aware of our thoughts regarding an eventual exit.”
Mark Worley, director at Christie & Co, who handled the highly confidential off market sale, comments: “We have known Nick and Melanie for many years and have long admired their business, both from a professional and personal point of view. It was extremely rewarding to be able to help them achieve their exit strategy, with the minimum of inconvenience and disruption.”
New owners, Nicky Tucker and Jim Johnson, said: “We have had dealings with Mark for a few years and, following the sale of our trading companies, Litterboss and Bettakleen, we approached him to explore the possibility of acquiring a hotel in the North East region. The fact that Eslington Villa comes with an excellent management and catering team means it’s very much business as usual, which is great news for repeat and long standing clientele, who have come to expect the highest level of food, service and presentation.”
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Source: FS – All – Hotels – blogs
Strong local reputation of Tyneside 18-bed boutique secures off-market sale