Business & Economy
Gainford Group acquires historic Newcastle building
October 24, 2019
Leisure operator Gainford Group has recently acquired Moot Hall, a Grade 1 listed building dating back to 1812 that was once Newcastle’s Crown Court.
The building is one of Newcastle’s most iconic. Situated opposite the Vermont Hotel, another property owned by Gainford, the Moot Hall is still being used as a courtroom, as well as hosting wedding ceremonies, conferences and seminars.
The new owners say it will continue to function in this capacity. The purchase will enhance a portfolio, which now includes six hotels, six restaurants, bars and night-time venues, 14 care facilities and a number of children’s day nurseries.
The news also comes after Gainford’s purchase of the New Bridge Street Hotel site, which they intend to redevelop into luxury accommodation.
Imran Khaliq, director of Gainford Group, said: “The Moot Hall is a building we know very well, being so close to the Vermont, and it really is an iconic and unique piece of Newcastle’s history.
“We are very pleased to become its owner and to incorporate it into the Gainford Group to enhance our existing operation.
“This acquisition marks yet another significant investment for us in the North East and adds another highly sought-after property to our portfolio.
“We continue to grow strongly across all aspects of the group, and this is the latest very exciting development for us.”
Law firm Sintons advised on the acquisition and has a longstanding relationship with Gainford Group.
Real estate partner Alok Loomba said: “Gainford are a hugely ambitious and successful business and are very significant property owners and developers in Newcastle and beyond.
“The Moot Hall is a fantastic addition to their portfolio and sees the business become the custodians of this historic and beautiful building, which has such strong heritage in Newcastle.”