One of the region’s most exclusive hotels has been sold in a deal overseen by Sintons
One of the region’s most exclusive hotels has been sold in a deal overseen by law firm Sintons.
Eslington Villa, which dates from the 19th century, has been bought by Jim Johnson – a well-known North East businessman who last year sold his maintenance companies for £16 million – and Nicky Hunter, who are taking on the popular Gateshead venue after its long-term owners decided to move on.
Nick and Melanie Tulip have built up Eslington Villa since the 1980s into a highly-rated 18-bedroom hotel with a much-loved restaurant, which has become known in its own right as a ‘must visit’ for foodies.
Law firm Sintons, based in Newcastle, acted for the Tulips in the sale. Specialist business property advisors Christie & Co brokered the sale, which was conducted entirely off the market.
Having previously been apprehensive about the prospect of selling their beloved Eslington Villa venture, the Tulips are now confident in its future having found the right buyer.
Mr Tulip said: “For some time now, Melanie and I have considered moving on, and the fantastic team we have in place allows the business to largely run itself.
Melanie and I would also like to thank the team at Sintons for their professionalism in making this daunting process run very smoothly and to a happy conclusion.”
New owners Nicky Tucker and Jim Johnson, who are both Low Fell residents, became interested in purchasing Eslington Villa due to its strong local reputation.
They said: “The fact that Eslington Villa comes with an excellent management and catering team means it’s very much business as usual, which is great news for repeat and long standing clientele, who have come to expect the highest level of food, service and presentation.”
Matt Collen, Partner in the Corporate and Commercial department at Sintons, led the transaction on behalf of Nick and Melanie Tulip.
He said: “Nick and Melanie have built Eslington Villa into a popular and highly-esteemed venue, and they are now able to move into the next chapter of their lives knowing their beloved venture, which has been theirs for more than 30 years, is in good hands.
“We were very pleased to act on their behalf in the sale of their family business, and wish them the best of luck with their future plans.”