NEWPORT – A Portsmouth businessman has acquired four bed-and-breakfast businesses along with a fifth property to be reopened as a B&B in Newport for $5.75 million, according to real estate professionals.
The purchase of three properties was announced recently by Mott & Chace Sotheby’s International Realty. This week, two more B&B sales were announced by Lila Delman Real Estate.
The new owner of all the properties is Landings Capital and Development LLC, which is led by Christopher C. Bicho, of Portsmouth, according to real estate agent Paul Tobak, a broker associate for Lila Delman who represented the seller of two of the properties.
The most recently announced transactions include the sale of the Newport Blues Inn, at 96 Pelham St., and the Black Duck Inn, at 29-31 Pelham St. The two businesses sold for a combined $2.5 million, Tobak reported.
The sales announced earlier were of the Adele Turner Inn, at 93 Pelham St.; The Victorian Ladies, at 63-65 Memorial Blvd.; and a structure at 7 Annandale Road that will be converted to a B&B. Those sales, handled by Mott & Chace, sold for a combined $3.25 million.
Mary MacDonald is a staff writer for the PBN. Contact her at macdonald@pbn.com.