THE company that has exchanged contracts to purchase an iconic hotel, bar, restaurant and night club complex in Newquay can be revealed.
The Nicolas James Group (NJG) based in Southampton is in the process of buying the Hotel Victoria, Bertie O'Flannigan's pub and Berties Nightclub, the adjacent Whitehouse and Señor Dicks Mexican Restaurant in East Street.
The business already owns the five-star 100-bedroom beachfront NICI Hotel in Bournemouth.
The Hotel Victoria closed on Monday and Bertie O'Flannigan's pub is earmarked to shut on Monday, November 25, which will see around 50 staff facing redundancy.
The Nicolas James Group plans to breathe new life into the site through “substantial investment” once the contracts are exchanged at the end of January, which will “restore the hotel to its former glory.”
A spokesperson for the Nicolas James Group said: “We have successfully exchanged contracts to purchase Hotel Victoria in Newquay.
“The group plans to breathe new life into the site through substantial investment and redevelopment, with plans to be submitted in due course.
“Nicolas James Group, known for its expertise in the hospitality sector, has a proven track record of acquiring and transforming iconic coastal properties.
“Recognising Hotel Victoria's rich heritage and potential, the group will leverage its experience and investment to restore the hotel to its former glory, as a cornerstone of Newquay's vibrant hospitality scene.
“Details of proposals will be made available by spring 2025.
“This acquisition presents a unique opportunity to revitalise a cherished landmark in Newquay. We are excited to have exchanged contracts and look forward to sharing our vision for the hotel's future.
“The directors of the vendor made the decision to close the hotel prior to purchase, due to the longstanding difficult trading conditions, with the site to now remain closed during its extensive refurbishment. While this continued closure is regrettable, it is necessary given the scale of renovations required.”
The sale has come about after the majority of the shareholders who owned the Hotel Victoria, Bertie O'Flannigan's pub and Berties Nightclub and Señor Dicks Mexican Restaurant decided to get their equity out of the business despite “other options being available.”
The Hotel Victoria has been run by the Taylor family since 1976. Ron and Audrey Taylor moved to Newquay in 1971 and purchased the Pentire Hotel before the Victoria Hotel. They sold the Pentire Hotel in 1988.
They converted the Prince Albert pub and saloon bar into Berties pub, which became a feeder bar for Berties Nightclub. The pub and nightclub went on to become one of the most popular venues in Cornwall in the 1990s and early 2000s.
Richard Taylor, a major shareholder in the business, said: “We exchanged contracts with the Nicolas James Group, and the sale is due to complete at the end of January.
“From what we know a major refurbishment and refit of the hotel will take place. Once that is complete the hotel will be a major asset to the town.
“This deal has been in the pipeline for one and a half years. There were alternatives that would have enabled the Hotel Victoria to continue but the choice was made to go with the Nicolas James Group.”
