Hotel development opportunity of historic buildings

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Specialist property adviser Christie + Co is managing the leasehold interest in Cowes Building, in the historic and picturesque town of Berwick-Upon-Tweed, Northumberland, and is inviting parties to register their interest.

The Grade II Listed buildings are an important part of Berwick’s history, but the condition of the buildings has deteriorated since Wm. Cowe & Sons ceased trading in 2010.

The property currently has accommodation over three floors as well as a separate two storey cottage.

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Arch Commercial Enterprises Limited, a wholly owned subsidiary of Northumberland County Council, own the premises and have secured Heritage Lottery Funding to repair and reinstate the exterior and fabric of the building as well as restoring the architectural features within. The building is able to accommodate a restaurant to the ground floor and hotel accommodation across the remaining floors.

It is envisaged that the restaurant would seat approximately 40 people, whilst the hotel accommodation could provide 7-10 bedrooms depending upon layout and design. The cottage to the rear could be used for either additional bedrooms, staff accommodation or as a self contained holiday let.

Mark Worley of Christie + Co’s Newcastle office is handling the sale. He says: “Our clients are seeking an experienced leisure operator as a tenant to contribute financially to the refurbishment and interior of the building in return for the grant of a new lease for a minimum of 10 years.

“This is an excellent opportunity for a hotel and restaurant operator to work in partnership with a commercial property developer on the refurbishment and fit-out of the premises to their own design and specifications. The Cowes properties are a vital part of Berwick’s history and it would be wonderful to see these buildings back in use and contributing to the regeneration of the town’s economy.”
 

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