Closed Rothbury hotel built by Lord William Armstrong sold through Christie & Co
On behalf of North East-based liquidators, Northpoint, specialist business property advisor, Christie & Co has completed on the sale of The Coquetvale Hotel, a closed hotel located in Rothbury. The pleasant and popular town is situated along the River Coquet, on the edge of the Northumberland National Park.
Boasting views across the town and rolling hills, The Coquetvale Hotel features 14 en-suite bedrooms, a spacious bar and restaurant, with private dining room, large ceremony room and decked sun terrace. The previous owners recently completed a significant refurbishment, meaning little investment is required from the new owner.
The hotel was originally built in the 1870s by Lord William 1st Baron Armstrong, a distinguished North East engineer, philanthropist and scientist, and was initially used as a railway hotel to service guests visiting the nearby Cragside House, which was also built by Lord Armstrong and was renowned as the first house in the world to be powered by hydroelectricity. Lord Armstrong also designed the famous Newcastle Swing Bridge, founded Newcastle University, donated Jesmond Dene and Armstrong Park to the people of the city and left money in his will to build The Royal Victoria Infirmary which is now one of the largest and most prominent hospitals in the UK.
The Coquetvale Hotel is well-positioned within the town and ideally located for guests to explore all the area has to offer, including the scenic countryside within the national park, perfect for cycling and walking enthusiasts, the famed Northumberland heritage coastline, as well as a multitude of historic castles, fortifications and picturesque towns and villages. Key attractions including the UNESCO World Heritage Hadrians Wall site, Alnwick Castle, Sycamore Gap and Kielder Water & Forest Park are also easily accessible from the hotel.
The business closed its doors in December 2020, when the trading company entered liquidation. In early 2021, Christie & Co’s Hospitality team marketed the business at £425,000 and was inundated with enquiries, culminating in a best and final offer scenario and a number of excellent cash offers.
The Coquetvale Hotel has been purchased by Kay Henry, an experienced hospitality and leisure operator. When asked of her plans for the hotel she advised, “Our key priority is to engage more with local trade and look to offer better value for money food, while still retaining the excellent standard of produce. We also have plans to convert the existing ground floor owners flat into the original bar and make better use of the wonderful exterior space, and to hold barbecue evenings on the decked terrace. We feel that the wedding trade has been historically low and therefore we will be actively marketing the hotel as a boutique wedding venue as well as a lovely country getaway.”
Mark Worley, Director in Christie & Co’s Hospitality team handled the sale and comments, “Despite being closed and in liquidation, the interest in this hotel was tremendous and is indicative of the current demand for tourism and leisure-led hotels and hospitality businesses ahead of the 2021 summer season, when we expect to see the UK staycation boom continue. Bookings for domestic holidays are through the roof, due to ongoing COVID-19 travel restrictions, and buyers are keen to capitalise on this opportunity, so we would welcome anyone operating a similar business and who are considering selling , to get in touch.”
The Coquetvale Hotel was sold off an asking price of £425,000 for the freehold basis.
For further information on this press release, contact:
Bronte Hughes, Corporate Communications Executive
P: 020 7227 0794 or E: email@example.com
Contact the agent:
Mark Worley, Director – Hospitality
P: +44 (0) 7791 980 852