Today’s news in brief – 20/9/24
The Nether Abbey Hotel in North Berwick is on the market for £1.8m after being owned by the same family for over 60 years. Located on Scotland’s East Lothian Golf Coast, the 12-room hotel, which includes the Fly Half Bar, Restaurant, and outdoor terraces, has been extensively upgraded. North Berwick is known for its golf courses, scenic views of the Bass Rock, and close proximity to Edinburgh. The sale, handled by Graham + Sibbald and Colliers, presents a rare opportunity to own a 4-star hotel with a loyal customer base. The current owners, Stirling and Jela Stewart, are selling the property as they prepare for retirement.
Zedwell Hotels’ parent company, Criterion Capital, has secured £16m in refinancing from Metro Bank to fuel its expansion. The funds will support Zedwell Greenwich, a 123-room hotel that opened in 2023, and plans to develop 13 more properties across the UK by 2027, aiming for a portfolio of over 7,000 rooms. Located in Greenwich, near iconic landmarks like the Cutty Sark and O2 Arena, Zedwell Greenwich follows the brand’s focus on sleep-centric, sustainable tourism. Metro Bank, with expertise in hospitality financing, is backing Criterion Capital’s vision for further growth.
The former Hunters Quay Hotel in Dunoon, a 10-bedroom Victorian property once owned by Sir Thomas Lipton, will be auctioned with a guide price of £430,000. Closed since 2020, the property retains its ornate Victorian features and is located near the Firth of Clyde. Auctioneers are optimistic about its future potential, with its proximity to Glasgow making it an attractive investment. Built in 1865, the hotel could be repurposed for various uses, depending on planning consent.
Ye Olde Bell’s Restaurant 1650 is set to relaunch this October with new executive chef Terry Phillips, formerly of Chatsworth House and the 2012 London Olympics. Phillips has redesigned the menu, introducing a seasonal five-course tasting experience with locally sourced ingredients, including seafood from Whitby and meat from local butchers. The menu will change every four weeks, offering dishes like roast duck breast and vegetarian options. The restaurant, known for its AA Rosette and Art Deco-inspired bar, aims to elevate its dining experience. General manager Kate Firth hopes it will become a top dining destination.
