Specialist hotel property adviser Christie + Co has sold The Newark Hotel in Peterborough city centre following a competitive process, with funding arranged by sister company Christie Finance.
Vivien Weatherhead, who has owned and operated the 33-bedroom hotel since 1992, passes the torch to experienced operators Mr and Mrs Sukh Sanghera from London.
The Newark Hotel benefits from an established mix of leisure and corporate business all year round and is well-positioned for accessing Peterborough’s historical sites, leisure facilities and business areas. The hotel also offers a spacious bar, lounge, restaurant and a conference room which can accommodate up to 20 delegates.
Tim Gooding of Christie + Co’s Ipswich office transacted the sale. He comments: “Very rarely do private hotels of this scale come to the market in Peterborough, and as a result the hotel generated significant interest culminating in a sale to the Sangheras. We wish them all the best in their new venture.”