Christie & Co sell historic Kenilworth hotel to local buyer
Specialist business property advisor, Christie & Co has completed on the sale of The Old Bakery, an historic 14 bedroom hotel in the centre of Kenilworth, Warwickshire, to a local buyer with plans to grow and develop the business.
Situated on Kenilworth’s old High Street, The Old Bakery has a history dating back some 200 years. Established in 1825 as a traditional bakery and serving as the town’s main bake house, the property underwent significant renovation in the 1990s and was converted into a hotel. Having been subsequently extended The Old Bakery now offers 14 en suite letting bedrooms alongside an on-site bar & restaurant. The business has been recognised for both its accommodation and wet trade, having been awarded a Certificate of Service Excellence by Trip Advisor, appearing in the Good Beer Guide for the last 15 years, and having won CAMRA Pub of the Year 2017,18 & 19 for the Coventry & Warwickshire area.
The business has been owned and operated for the past 14 years by hoteliers, Alan and Janet Blackburn, who sought a sale in order to move onto their next venture. Alan comments, “The Old Bakery has served as an important community asset for many years, and we have thoroughly enjoyed our time here. We now leave behind a fantastic business opportunity for the new owners and wish them the very best of luck in their new endeavour. We would also like to extend our thanks to Joshua Sullivan of Christie & Co whom contributed significantly toward securing a successful sale.”
The Old Bakery was purchased by Sarj Singh and his sons who plan to build upon the hotel’s existing reputation by extending the presently limited operating hours, providing a food offering during the day, and renovating the letting accommodation in order to attract repeat corporate and leisure customers. Sarj comments, “This is our first foray into the hotel sector and we very much look forward to further developing the business left behind by Alan and Janet, whilst upholding the existing offering that has been so well supported by the local and wider community for many years.”
Joshua Sullivan, Senior Business Agent at Christie & Co handled the sale and comments, “The Old Bakery garnered significant interest during the marketing process on account of both its profitability and reputation, as well as the fact that it commands a prominent position within the affluent town of Kenilworth. The transaction signifies that well-traded assets in sought after locations continue to attract high levels of interest despite the current socio-political headwinds. We wish the very best for the new owners.”
The Old Bakery was sold on a freehold basis, off an asking price of £1,250,000.
For further information on this press release, contact:
Fiona Fieldhouse, Head of Corporate Communications
P: 020 7227 0793 or E: firstname.lastname@example.org
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