Christie & Co and Knight Frank complete on Cotswold Inns & Hotels
Specialist business property advisor, Christie & Co and joint agent Knight Frank have completed on the sale of Cotswold Inns & Hotels, a privately owned collection of seven hotels & inns located around the Cotswolds which also included two central Birmingham bars, to Fuller’s PLC off a guide price £40 million.
The freehold collection, established in 1997 by Gloucestershire hospitality couple Michael and Pamela Horton, comprises Hare & Hounds Hotel, Manor House Hotel, Bay Tree Hotel, The Bear of Rodborough, The Close Hotel, The Lamb Inn and The Swan Hotel.
Each hotel is known for its own distinctive character and modelled on English country homes, blending stone structures, antique furniture and artwork with modern luxuries, to offer 21st century luxury residences. In total there are 201 en-suite bedrooms across all the properties and the hotels regularly sees high occupancy with strong demand from private leisure guests and special occasions such as weddings. The Cotswolds is a popular destination for tourism, encapsulating quintessentially English architecture, a rich history and unspoilt countryside.
Noel Moffitt, Senior Director at Christie & Co comments: “We were delighted to act on behalf of Michael & Pamela Horton. This portfolio is a unique investment opportunity, being the largest collection of privately owned Cotswold hotels, which report an annual net revenue in excess of £17.5 million, with further development opportunities to grow revenue from either lapsed or existing planning.
“The strength of the Cotswolds Inns & Hotels assets’ locations in some of the Cotswolds region’s most picturesque villages and towns and consistently high occupier demand, coupled with excellent property fundamentals in providing long-term secure income, appealed to a wide selection of both domestic and overseas investors.”
Peter Turner, Property Director at Fuller’s, said: “We are delighted that Michael and Pamela choose to sell to Fuller’s. Quintessentially English and renowned for a focus on fresh food, premium accommodation and an exceptional level of customer service, this collection of seven iconic country hotels is highly complementary with our existing strategy.”
The transaction is structured by the sale of 100% of the share capital of Cotswold Inns and Hotels Limited.
For press enquires please contact:
Fiona Fieldhouse, Head of Corporate Communications
P: 020 7227 0793 or E: fiona.fieldhouse@christie.com
For full details on the property please contact:
Noel Moffitt, Senior Director - Corporate Pubs and Restaurants
P: +44 121 452 3706 or E: Noel.Moffitt@christie.com
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