New owners for Grade II listed Hereford hotel
Acting on behalf of Mahal Hotels Limited, specialist business property adviser, Christie & Co has completed on the sale of The Green Dragon Hotel on Broad Street in the city centre of Hereford to a consortium of leading hospitality entrepreneurs.
Luke Johnson, serial hospitality entrepreneur, who lives near Malvern and owns the Penyard House hotel in Ross-on-Wye, is among the group of investors along with Robin Sheppard, founder and chairman of Bespoke Hotels who has been appointed chairman of the Green Dragon’s new board of directors.
The hotel on Broad Street is historically a coaching inn dating back to the 16th century and it retains many of its original features. It represents nearly a quarter of Hereford’s hotel inventory and will now undergo an extensive refurbishment. It features a 120-cover restaurant, coffee lounge and two bars, as well as extensive banqueting facilities, including a ballroom for 200 sit-down guests.
Matthew Smith, Director at Christie & Co’s Bristol office acted on behalf of the seller Mahal Hotels Limited and comments, “An exciting time ahead for all those associated with the hotel as the business enters into a new phase under the ownership of experienced hospitality investors who have very exciting ideas about how to reclaim its position at the heart of the city with broader national appeal.”
The Green Dragon was sold off a guide price of £2,950,000.
