Well-known hotel in Peterborough is sold for undisclosed sum
A popular hotel in the heart of Peterborough has just been sold.
The 33-bedroom Newark Hotel, in Eastfield Road, has been sold to new owners for an undisclosed sum.
The sale of the hotel has been announced by specialist hotel property adviser Christie and Co.
Mr Sanghera said he is not the owner of the hotel but is a director and he stated that the The Newark Hotel has been sold following a competitive process, with funding arranged by sister company Christie Finance.
He said: “Vivien Weatherhead, who has owned and operated the hotel since 1992 passes the torch to experienced operator Sukh Sanghera of London.
The spokesman added: “The hotel benefits from an established mix of leisure and corporate business all year round and is well-positioned for accessing Peterborough’s historical sites, leisure facilities and business areas.
“The hotel also offers a spacious bar, lounge, restaurant and a conference room which can accommodate up to 20 delegates.
“Very rarely do private hotels of this scale come to the market in Peterborough, and as a result the hotel generated significant interest culminating in a sale to the Sanghera family.
“We wish them all the best in their new venture.”