8/24/2018 | Hotels

Suffolk hotel sold through Christie & Co

Specialist business property adviser, Christie & Co has completed on the sale of Fishers Hotel in Pakefield, near Lowestoft on the Suffolk coast, to Nathan Jones, Co-founder of Harbour & Jones Ltd, a London based food service and hospitality specialist. In June 2017, Harbour & Jones Ltd merged with CH&Co, where Jones continues to be a Director.

Previous owners, David & Lesley Fisher acquired the business through Christie & Co in 2000, having built an excellent reputation for the hotel and generating impressive reviews throughout their nearly 18 years of ownership. The husband and wife team decided to sell the hotel to semi retire and comment, “We’ve really enjoyed our time at Fishers and wish Nathan, Sally & Cathy well for their new venture, which we’re sure will be successful and, with the investment planned, will certainly take the business on to the next level.”

Whilst under the ownership of David and Lesley, the property had been refurbished to an excellent standard throughout and features a lounge bar, restaurant, and conservatory dining area with seating for 25 guests, plus 16 individually decorated en suite letting bedrooms, six of which are on the ground level with private entrances. Additionally, there is a detached two bedroom bungalow providing on site manager’s accommodation.

New owner, Nathan Jones grew up in Pakefield, where his parents owned a fish and chip shop, whilst he trained in hotel and food service management at Lowestoft College. Now with 30 years’ experience in the hospitality industry behind him, Mr Jones has decided to make this purchase in his hometown and comments, “This will remain a family led business. My sister, Cathy will be heading a team to run this new venture, which we hope in time will grow to multiple sites. We plan to refurbish the hotel to a high standard and give it a new name and image, whilst working hard to maintain and build upon the reputation set by David and Lesley.  

“In time, the restaurant will reopen for quality Sunday lunches and feature a series of pop up restaurant concepts running from Thursday to Saturday with a constantly changing themed dinner menu. We also wish to create a bar offering that cannot be found in any of the neighbouring establishments that compliments the dinner theme.”

Tim Gooding, Director at Christie & Co’s Ipswich office, who handled this latest sale as well as that in 2000, comments, “Having helped David & Lesley acquire the business 18 years ago, we were delighted that we were able to find the right buyer for the Fishers, who deservedly are now looking forward to a well-earned retirement! Nathan will undoubtedly build on David & Lesley’s achievements. We wish David & Lesley all the best in their retirement and Nathan and his team good fortune over the coming years.

“This sale is another example of a positive and encouraging hospitality market being experienced across the region.”

Christie & Co sought an asking price in excess of £675,000 for the freehold interest. Fishers Hotel was sold for an undisclosed sum.