A 20-year-old estate agency in the North East rescued from administration by the family of its founder has re-opened for business at a new address.
Alnwick-based high-end estate agency Sanderson Young was initially issued with a winding-up notice in September by HMRC over unpaid tax, VAT and National Insurance bills totalling £240,000 and was offered for sale.
But family of founder Duncan Young were recently reported to have bought the assets of its parent company from the receivers.
A new company, DG Young Limited, was set up in August with his wife Alison as the sole director to operate the business.
Estate agency staff
All 50 staff at the firm’s three branches including in Newcastle and Ponteland have kept their jobs.
But the firm’s flagship branch in Alnwick (above), which is one of Newcastle’s prime commuter towns, could not be secured after its lease came up for renegotiation in recent weeks. Sanderson Young has now moved to a temporary site within the town after leaving its old branch two weeks ago.
“We did request to our landlord that we could extend the lease for a period of time, but this was declined,” Duncan (left) told local media. “But we were immediately able to secure the [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.”