Coastal Park Hotel & Grill sold to first time entrant to the sector
Specialist business property adviser, Christie & Co has sold the freehold of Coastal Park Hotel & Grill in Llanelli, South Wales. Our clients Mr & Mrs Hughes have developed the family business over the past 20 years and are keen to remain in the sector but on a smaller scale.
Llanelli is strategically located between Swansea and Carmarthen and the business has benefited from both commercial and leisure trade. Pembrey Circuit, a popular motor racing venue is in close proximity to the hotel as are a number of other attractions including Parc Y Scarlets, the home of Llanelli’s Scarlets Rugby team and one of the premier conference venues in West Wales.
Mr Manzoor Shah, who currently resides in London, was keen to acquire his first hotel business. With funding arranged through Christie Finance, he acquired Coastal Park Hotel and intends to run the hotel with full time assistance of family members.
Corrina Jones, Business Agent in Christie & Co’s Cardiff office comments, “We wish Mr & Mrs Hughes luck with their future plans moving forward. Llanelli is undergoing an exciting regeneration; the Llanelli Coast Joint Venture between the Welsh Assembly Government and Carmarthenshire County Council is a partnership which will hopefully deliver an ambitious regeneration plan for Llanelli Waterside. This development will benefit the local economy and area in general and we wish the new owners all the best with their new venture.”
Gary Boyce, Associate Director at Christie Finance, comments, “Mr Shah and his family have secured a strong and established business and they look forward to growing relationships with its repeat customers and people looking for quality accommodation and food offering in the area. Through our trusted links with lenders, we were pleased to secure the necessary funding for the purchase and will continue to work with Mr Shah as he develops the business.”
