Former WG Mitchell hotel acquired for private individual

23rd March 2010, 11:03am

Acting on behalf of a private individual, Christie + Co has acquired the New Northumbria Hotel near Newcastle-upon-Tyne, which was formerly owned by WG Mitchell, from Administrators Ernst & Young, for an undisclosed sum.

Located in the heart of Jesmond, to the north of Newcastle upon Tyne, the 57-bedroom hotel has built up an extremely strong reputation for its food and beverage offer, which consists of two restaurants; Scalini's Jesmond, and Louis' Restaurant, and also two bars; Osborne's Bar and Bar Polo.

In addition, the property has one meeting room which can accommodate up to 50 delegates in a theatre style layout.

Kerr Young, Associate Director at Christie + Co, said: "We are delighted to have secured this long established hotel, which has generated an admirable reputation, for our client. We believe that the mid-market hotel sector currently offers fantastic long-term investment opportunities. Given the quality location of this property, the New Northumbria is set for further success going forward."

Ernst & Young was appointed as Administrators to 28 of WG Mitchell's 75 companies in April 2009. Christie + Co completed the sale of another former WG Mitchell-owned property, the Park Inn Russell Square in London, formerly the Bonnington Hotel, to Crimson Hotels Group, on behalf of Ernst & Young, last December.