The Castle Hotel brought to the market through Christie & Co
Specialist business property adviser, Christie & Co has brought to the market The Castle Hotel, a well established coaching inn located in the historic market town of Devizes, Wiltshire.
Situated in the town centre, The Castle Hotel occupies a distinctive 18th century Victorian property and features an open plan coffee lounge and 35 cover main bar on the ground floor, with brick walls and wooden floors. A separate restaurant area provides seating for 50 covers and up to 100 for events and functions, plus there is also a meeting room for 12 covers situated on the first floor. 19 en suite letting bedrooms are arranged over the first and second floors, in addition to one small single, non-en suite room on the first floor, which could be let or used as staff accommodation, and a manager’s flat with two bedrooms on the second floor.
The hotel benefits from strong occupancy and presents significant opportunity for a new owner to drive the business forward by developing local affiliations, enhancing the food offering, hosting themed nights or music events, upgrading the letting rooms or improving the business’ online presence.
The bustling town has a colourful Medieval past, with a wealth of history and architectural heritage, featuring more than 500 listed buildings. In 1141, the town received a charter permitting regular markets and the large market place, situated in the heart of the town, remains a focal point to this day. Devizes is most known for local attractions including The Wadworth Brewery, the award winning Wiltshire Museum and the Caen Hill Locks on the Kennet and Avon Canal. Additionally, the town hosts a number of community events and art, street and food festivals.
Devizes is also a strong stand alone commercial hub in the South West and has ties to the surrounding military bases, both of which lead to a constant demand for good quality accommodation.
The Castle Hotel is currently owned by Old Sarum Hotels Ltd, a regional operator with a portfolio of four pubs and hotels, situated in Devizes and Salisbury. Following seven years of ownership, Gary Morse comments, “We are selling in order to allow us to concentrate on our other hotel businesses. We believe that after seven successful years trading the Castle Hotel under management, it now needs a hands on owner operator to fully realise the value of the asset and to elevate it to the next level. Attaining the next level requires closer attention and greater involvement than myself and my partner, Jeremy King, can give to the site.”
Nicholas Calfe, Director at Christie & Co, is handling the sale and comments, “The sale of The Castle Hotel presents a rare opportunity to acquire a leasehold pub with a strong reputation in the quaint old market town of Devizes. We anticipate The Castle Hotel will generate significant interest, ideally suited for an owner operator looking to take the profitable and well established business to the next level.”
Christie & Co is seeking an asking price of £175,000 for the leasehold interest of The Castle Hotel.
