Sea Hotel in South Shields is sold as the new owner ‘plans to invest’ in the business
The administrators of the Sea Hotel in South Shields have confirmed that venue has now been sold.
The Sea Hotel, on Sea Road in South Shields, went into administration on July 18, 2022, when the venue appointed Lee Lockwood and Gareth Harris of RSM UK Restructuring Advisory LLP were appointed as joint administrators.
Almost a year on, RSM has secured the sale of the hotel to Yorkshire-based business, Resource Medical (UK) Limited.
Despite being in administration and on the market, the hotel remained open, with the vast majority of bookings and events being honours.
The administrators did have to make the difficult decision to make some cancellations, including weddings, at short notice.
The Sea Hotel underwent a £1.15million refurshishment before the Covid-19 pandemic, which saw an overhaul of the hotel’s bedrooms, reception areas and restaurant.
Lee Lockwood, partner at RSM UK and joint administrator, said: “It has been a complex nine months facilitating the sale of the Sea Hotel and I am pleased we have been able to agree a sale with the new owner which has secured the majority of future bookings.
“I would like to thank all staff and guests for their continued support and understanding during a challenging time.
“Given its significance as a historic building, I hope that this sale will ensure tourism continues in the area and supports the local economy for years to come.”
Resource Medical (UK) Limited already owns a number of hotels in Yorkshire, as well as a pharmacy business.
RSM UK Restructuring Advisory LLP has confirmed that the new owner plans to invest in and continue running the hotel.
Earlier this week, rumours circulating on social media that the hotel would be leased to the Home Office to house people seeking asylum in the UK were shut down.
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