Rothbury hotel owner brings in specialists to sell property

A specialist firm has been brought in to find a buyer for a well-known Northumberland hotel

The Victorian Coquetvale Hotel which has been put up for sale by owner Chris Greaves
The Victorian Coquetvale Hotel which has been put up for sale by owner Chris Greaves

A specialist firm has been brought in to find a buyer for a well-known Northumberland hotel.

Hotel agent Colliers International has been appointed to sell the Coquetvale Hotel and restaurant in Rothbury.

The property, previously marketed by commercial business agent Christie and Co, is available for £360,000.

The hotel was built in about the 1880s and was originally called the Railway Hotel when trains stopped at Rothbury.

It attracted many visitors from Newcastle in its 1960s heyday.

The property was bought by current owner Chris Greaves in 2007. Last  February, he decided to seek a new challenge and put the hotel on the market through Christie and Co.

Last month, the company was inviting any cash-funded offers over £500,000. Now, however, Mr Greaves has brought in Colliers.

He said: “Christies did whatever they could and exhausted their database – it is time to give Colliers a go.” The firm is inviting offers around £360,000 for the going concern freehold. Mr Greaves said:  “It is obviously a prominent village town hotel that is doing well.

“The reputation is very good and it is an opportunity for someone to pick up a successful hotel at a very good price and basically build on the hard work that has already been done.`

“I have been here six years, I have done as much as I can, it is time to move on as much as anything.” The hotel offers bar and dining facilities alongside 14 individually designed letting bedrooms.

There is also accommodation for staff as well as a two-bedroom flat for   owners.

In the heart of Northumberland and close to the national park, Rothbury serves as a superb base for those exploring the region. The area is an established attraction for walking, touring, fishing, cycling and golf.

National Trust property Cragside is on the doorstep and there are wonderful places to visit in all directions including Kielder Water, Hexham, Bamburgh Castle, Holy Island, Alnwick Castle, Morpeth and Newcastle.

Peter Bean, of Colliers International, said: “The owner acquired the Coquetvale Hotel in 2007 and has successfully built the business whilst reinvesting in the facilities.

“Buyers now have an opportunity to acquire the main hotel and restaurant in the town with a net turnover around £400,000 and with all set fair for future trading success.”

Anyone interested in  the hotel should call Mr Bean on 0113 2001890.

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