Bloomsbury Guest House in York has been purchased by two business professionals after funding was successfully secured by commercial finance broker, Christie Finance.
First-time buyers, Anthony Lewis and Jonathan Burgoyne, have now purchased the guest house, which has been owned by the previous owners since 2009. They decided to sell the site in order to retire.
The property features eight en suite letting rooms, with 16 bed spaces. The retiring vendors closed the business for 35% of the year and only accepted two-night stays.
Lewis and Burgoyne will now open the guest house 365 days a year and plan on adding a further two letting rooms under a new trading name of The Bishop and The Bison Boutique Hotel.
The pair have several plans to improve the guest house, with a conversion of the resident’s lounge and owner’s accommodation into two additional rooms, as well as decorating and furnishing the existing rooms “where necessary”.
The property will be closed for one month in order for development work to take place and overall improvements to be made, and will open for trade from 1 November 2020.
The new owners said: “Craig Dickson at Christie Finance was a tremendous support throughout the process of buying our first business.
“Craig guided us through what data and information we needed to collate in order to have a complete business plan, and then went away to liaise with banks and summarised the different offers of funding we received.”
They added: ”The process was painless and efficient. I would recommend this service for those starting out with a new business who need the additional handholding.”
Craig Dickson, director at Christie Finance, said: “It has been an absolute pleasure working with my clients in securing the finance they need to make their dream of owning a hotel in Yorkshire a reality.
“They both have extensive experience working in business, with impressive careers working for well-known brands. Their commitment to the purchase is undoubted as they are relocating from the USA to fulfil their role as the new owners.”