Tue, 27 Sep 2011 | BUSINESS SALE
A multi award-winning Tyneside hotel, The Vermont, has been placed on the market for £9 million.
Millionaire Anthony Zivanaris owns the 101-room Newcastle city centre hotel’s parent company Lincoln Group Ltd, and has announced his upcoming retirement. Colliers International and Christie + Co have been appointed to jointly manage the sale process.
The Vermont hotel first opened its doors to customers in 1993, after the building had been in use as the main office for Northumberland County Council.
In 1997, it became the first business in Newcastle to be awarded three rosettes in the AA Rosette Award scheme. In the 1990s Mr Zivanaris famously paid to keep the Tyne Bridge lit at night when the guests at his hotel said they would like to see the bridge past the 10pm cut off point.
Famous guests have included TV entertainers Ant and Dec, composer Engelbert Humperdinck and media personality David Gest. The film School for Seduction was set in the hotel, with Kelly Brook playing the part of an Italian temptress.
Julian Troup, the head of the UK Hotels Agency at Colliers International, said, “This is an outstanding high profile hotel instruction that has unsurprisingly attracted a considerable amount of interest from the short list of targeted buyers that were initially approached in a confidential fashion.”
Other hotels owned by the Lincoln Group include the Baltimore Hotel in Middlesbrough and the Portland Hotel in Hull.
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