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14 October 2020 | Hotel Mortgages

Freehold purchase of 5* Country house set in the North Pennines Area of Outstanding Natural Beauty to experienced hospitality family

Specialist commercial finance broker, Christie Finance, has obtained funding for the freehold purchase of Fairfield House, a 10 bedroomed 5* self-serviced accommodation, located in Stanhope, County Durham.

Fairfield House is a significant country house set amongst 1.5 acres of gardens in the North Pennines Area of Outstanding Natural Beauty.  Located near to the small market town of Stanhope, Fairfield has obtained an excellent reputation over the years as exclusive hire accommodation. The house is extremely well regarded having won the coveted Five Star Gold Standard from Visit England and is ranked Number 1 of 45 holiday rentals in the area on Trip Advisor, rated 5 Stars from guest reviews.

The purchase, made by the Bahmanizad family, has seen the immaculately presented property fall into knowledgeable and experienced new ownership. The house currently offers 10 well-appointed bedrooms, five with en-suites, three sharing a bathroom and two bedrooms in an annex house with kitchen, en-suite, cinema and enough room for conferences or events. There is also a large lounge, dining room, kitchen, games room including a pool table and table tennis, with the addition of an eight-person hot tub, tennis court, BBQ and fire pit. The house really does pose a fantastic destination for holiday makers and the Bahmanizad’s believe that they can further utilise the space so that it continues to thrive.

The Bahmanizad family have always had the ambition of purchasing a hospitality business in the countryside and their purchase could be the start of many more. Ebrahim and Sue Bahmanizad have a background in the industry, having owned and operated many different properties, including one in Barbados for eighteen years. Ebrahim has a keen eye and attention to detail, with a background as a qualified engineer he has been able to design his properties. He has even recently brought to market a product which self-levels touring caravans, showing that his inventive nature doesn’t just stop at hospitality and leisure properties. Sue has solid experience in establishing the Olive Garden Italian take-away in nearby Newton Aycliffe. Combined. their knowledge makes for a robust business future. Their son Daniel has worked at the Olive Garden too, acquiring the business from Sue in 2017. He has successfully run the business in this time and is also bringing his wife Nicola into the family business.  As a qualified accountant and tax advisor, Nicola will be able to bring these skills to benefit the financial side of the business.

The family have seen opportunity to improve the property by converting ancillary buildings for use as managers accommodation or serviced apartments, and to increase revenue by targeting mid-week corporate bookings and weddings. They are very excited to take on this new venture as a family to see what improvements they can make and thank Matthew Gudgeon for his expertise in obtaining the finance needed.