Fisherman's Lodge restaurant has been sold

Sep 8 2009 by Peter McCusker, The Journal

THE sale of one of the North East’s best known restaurants has been concluded in less than two weeks – after months of talks with a previous bidder broke down.

Millionaire entrepreneur Tom Maxfield’s Fisherman’s Lodge restaurant in Jesmond Dene, Newcastle, which was put for sale for £80,000 in February, is now in the hands of one of the region’s brightest young chefs Alan O’Kane.

It is understood that Mr O’Kane and business partner, former City financier Jamie Howell, paid “substantially” less than the asking price. And Mr O’Kane says he plans to rid the Lodge of its “snooty” image.

He said: “We are going to take it back to what it used to be. At the moment it is too expensive and is viewed as being only for the very rich. If anything it is seen as being a bit snooty. People thought it was only for very special occasions or to be paid for on the company’s credit card and, with the credit crunch and the recession, the corporate side of the business has dried up.”

Award-winning Mr O’Kane learnt his trade in London with a spell at The Savoy and made his name at the Angel in Corbridge before cementing his reputation with Sydney’s in Tynemouth, now renamed Brasserie 1883.

After being contacted by property agents Christie & Co Mr O’Kane met Mr Maxfield at the Fisherman’s Lodge and shook hands on a deal at the end of their conversation, two weeks ago today. This had followed months of negotiation with a previous party who had become the sole bidder in the process as early as March this year.