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27 April 2018 | Hotels

Teesside hotel sold for residential use

The Claireville Hotel in Eaglescliffe, Stockton-on-Tees has been sold through specialist business property adviser, Christie & Co.

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The 18 bedroom detached hotel sits on Yarm Road, a busy urban street within an acre plot in an area of predominantly residential property between Stockton and Yarm.

Previous owner Reginald Reed, who has operated the business for many years along with his son Martyn and other family members, has decided to take a well-earned retirement and comments, “We knew Christie & Co from previous dealings and were aware of their track record in selling hotels in the region. We asked Mark Worley to come and talk to the family and give us advice on how best to go about exiting the hotel.”

Mark Worley, Director at Christie & Co handled the sale and comments, “Given the limited trade levels, the site size, and the type of properties in the immediate vicinity, and taking into account The Claireville’s former residential use, we knew that the hotel could very well sell for alternative use. We are very pleased that the buyer has succeeded in completing the purchase with the aim of transforming the property to a large home for himself and his extended family. We wish Reg a happy retirement and the new owners all the best in their new home.

The sale of The Claireville Hotel comes on the back of several other notable leisure sector deals through Christie & Co in the Teesside area, including Chapters in Stokesley, Pinchinthorpe Hall near Guisborough, The Black Lion and The Crosshill Hotel in Sedgefield, The Zetland in Middlesbrough and The Raby Arms in Hartlepool, and highlights demand for quality leisure properties in the region.”