Hay & Kilner advise on the acquisition of Colman’s of Aysgarth
John Morgan, Partner in our Commercial Property Team at Hay & Kilner, has acted for Peter and Teresa Wakefield on their acquisition of Colman’s of Aysgarth, for an undisclosed sum.
The acquisition represents a career change for Peter and Teresa, and their son Harry, who are relocating to the Yorkshire Dales. Peter will be managing the guesthouse business and Harry will manage the campsite business.
Colman’s of Aysgarth is set on a 1.7-acre site within the Wensleydale idyll of Aysgarth, and provides boutique guesthouse accommodation alongside a touring caravan park and campsite together with residential accommodation which they intend to make their home.
It is ideally located within walking distance of the village, Aysgarth Falls and numerous walking and cycling routes nearby, making it an ideal base to explore the region.
The Herriot Way runs through the lower end of the property. Aysgarth is the starting and finishing point of this popular 4 day 52 mile walk.
The site has been recognised with several awards, including Best Certificated Site, Warmest Club Welcome and Family Friendly Site in 2019 and Warmest Club Welcome 2022 by the Camping & Caravanning Club. It is one of the highest rated hospitality and leisure businesses in the region, with a 9.9 booking.com rating and a 5-star rating on Tripadvisor.
Hay & Kilner’s Corporate Property Team provided legal advice on the acquisition to Peter Wakefield and Teresa Wakefield, led by John Morgan, and supported by Georgia Whitfield. Claire Simmons, Partner and Head of Residential Conveyancing at Hay & Kilner acted simultaneously for Peter and Teresa in the sale of their home which was used to part fund the transaction.
Peter Wakefield said: “We are absolutely thrilled to be the new owners of Colman’s of Aysgarth. It’s a complete career change from our former life in dentistry but we’re looking forward to our new life in the country and welcoming guests to this beautiful part of Yorkshire. As keen motorcyclists we also hope to attract bikers in the future and offer local tours.’’
‘’Thanks to the team at Hay & Kilner for their support in allowing us the opportunity to purchase this wonderful site. We have been delighted with the service received for the residential and business aspects of this acquisition. We can recommend John Morgan and the rest of the team at Hay & Kilner with complete confidence. We felt 100% supported by the whole team.”
John Morgan, Partner at Hay & Kilner said: “We are very pleased to support Peter and Teresa on both the acquisition of the business and sale of their residential property demonstrating the variety of services that Hay & Kilner can offer.’’
“This sale demonstrates that the hospitality and leisure sector remains buoyant and the demand for businesses in the sector continues despite the challenges around operating costs. We wish them well for their new venture providing quality accommodation for the Yorkshire tourist and leisure economy in a stunning environment.’’
David Lee of Christie and Co advised the sellers and they were represented by Ian Barker and Karolyn Scott of BHP Law.
David Lee, Christie and Co said: “We were delighted to help Matt & Clare Colman sell this fantastic business in a beautiful location. We wish the new owners Peter & Teresa every success with the business moving forward”
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