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Luxury boutique hotel Jesmond Dene House in Newcastle has been acquired by Kronen Hotels Ltd for an undisclosed sum.
The 40-bed hotel, which is a Grade-II listed Arts and Crafts mansion that was once home to Sir Andrew Noble, a partner in Victorian industrialist Lord Armstrong’s engineering works, has been sold by its previous owners, due to their imminent planned retirement.
The transaction was an off-market deal to a private investor who will add Jesmond Dene to their ever-growing group, Kronen Hotels.
The new owner recognises the unique positioning of Jesmond Dene House in Newcastle and is keen to invest in the property and build-on its excellent reputation as a high-quality hotel, eatery and events venue.
Independent hotel broker, Simon Stevens Associates, confidentially acted on behalf of the sellers who have successfully operated the hotel since it opened in 2005.
Ryan Lynn, partner at Knight Frank, who handled the sale, said: “It has been a pleasure to be part of the deal and work with everyone involved. I am Newcastle born and raised and so proud to be involved in the purchase of one of its best hotels, I am looking forward to seeing what value the new owners will add. Brokering this deal on behalf of our client has been a highlight of my career to date.”
A spokesperson for the buyer, Kronen Hotels Ltd, said: “We are particularly proud to become the custodians of Jesmond Dene House. We are acutely aware of the responsibility we have to look after the first-rate team and guests which value the hotel, as well as its suppliers and other supporters.
“We have every intention of building on the foundations that the current owners and management team has established, and we recognise their role in building Jesmond Dene into the special hotel that it is today. We want to thank Knight Frank which not only brought us the opportunity, but also provided first rate guidance and advice. We are very grateful to Ryan Lynn and the Knight Frank team.”
A spokesperson for the seller, Jesmond Dene House Ltd, added: “Having advised the owners over many years, my clients have done a remarkable job of continuing to invest and elevate this beautiful property and thriving business throughout their tenure, despite industry challenges like the pandemic.
“We’re confident we have found a buyer that will keep the hotel in safe hands and continue to raise its profile as one of the best hotels in Newcastle.”
