Saturday, November 27, 2021

Popular family hotel in Scarborough sold through Christie & Co

Specialist business property advisor, Christie & Co, is pleased to report the sale of the family-friendly Green Gables Hotel in Scarborough, on the stunning Yorkshire coastline.

Located at the top of West Bank, this substantial five-storey hotel comprises 37 bedrooms, 15 apartments, and nine reception rooms, along with a bar, conservatory, dining hall, games room and heated indoor swimming pool. There is also a small shop, library, café and three-storey owners house attached to the main building.

The seller, Youfeng Jiang, has owned the property for several years however, the geographic location of the property no longer complements the rest of his business portfolio and future strategy, so he decided to put the business up for sale.

The buyers, who wish to remain anonymous at this stage, intend to keep the hotel trading in its current format and inject a significant level of investment into the bedrooms and public areas.

Handling the transaction for Christie & Co was Mark Worley, Hospitality Director for the North East and Yorkshire.

He comments, “Foreign travel restrictions as a result of the Covid-19 pandemic have created a surge in domestic staycation business. As a result, there is excellent demand for UK hospitality businesses, particularly those in national parks, tourist hotspots and coastal resorts, such as the Green Gables Hotel. The added advantage with this particular hotel is the huge amount of accommodation on offer which in turn provides excellent scope to increase trade levels and to capture the upsurge in visitors to the Yorkshire Coast.”

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