A North East estate agent has been saved from administration by the family of its founder.
Sanderson Young is this week back up and running in a new branch office in Bondgate Without, Alnwick, after it was forced to close its former site just down the street in Bondgate Within a fortnight ago.
After an ongoing dispute with HMRC which originates back to 2014, over an unpaid tax bill of £240,000, the parent company was unable to resolve its differences, which resulted in a restructuring and the assets of the company being placed up for sale in September.
“I was very keen to ensure that my commitment to the agency I have run for 20 years remained,” Mr Young told the Gazette. “I was therefore delighted when my family were able to secure the purchase of the assets of our parent company.”
The new company, DG Young Ltd, bought Sanderson Young in October and immediately agreed the ongoing employment of all 50 members of staff, as well as the portfolio of properties on the books.
But it was unable to secure the lease of the Bondgate Within building, which was due to expire at the end of October.
“We did request to our landlord that we could extend the lease for a period of time, but this was declined,” he said. “But we were immediately able to secure the premises we now enjoy adjacent to the Squash Club.
“While these are temporary, we are already feeling very much ‘at home’ in our new premises.
“We are firmly committed to representing estate agency within Alnwick and the area and we very much look forward to working with our clients past and present in the future, and thank everyone for their patience over this period of restructure that has taken place within the company.”
Amble-born Mr Young, who lived most of his early life in the town and Warkworth, started the company in November 1998.
He is an ex-pupil of the Duke’s Grammar School and Duchess’s High School, in Alnwick. His father, Hylton Young, was a local lawyer in Alnwick.
“He was delighted to serve the residents throughout north Northumberland in his days at Adam Douglas and Son,” said Duncan. “I am equally pleased that my company continues to own the brand Sanderson Young, which has served so many people in the north of England over the last 20 years.
“We continue to offer for sale a diverse range of high quality properties, especially on the coast where we have a superb reputation for achieving record prices for some beautiful houses. We are currently offering for sale a number of very exciting new homes developments in Warkworth and Lesbury for Lindisfarne Homes – one of our key clients; as well as in Rennington and Amble, where two new sites are offering some outstanding townhouses and bungalows.
“Gillian and her team in Alnwick are very much looking forward to welcoming customers to our new premises and remain on the telephone number 01665 600170.”