Cotswold Hotel purchased by local family brewer
Specialist business property adviser, Christie & Co has sold The Priory Inn in the historic Cotswolds market town of Tetbury situated near to the Highgrove House, the family home of HRH The Prince of Wales.
The Priory Inn consists of 14 en suite letting rooms, four principle trade areas including a large 82 cover restaurant and a large car park, which is rare for the location.
Having owned The Priory Inn since February 2004, Dave and Tanya Kelly transformed the business into a thriving hotel and restaurant, increasing the annual turnover from £400,000 to in excess of £1,300,000 and have now decided to take on a new challenge outside of the hotel industry.
This substantial period property has been acquired by Swindon based Arkells Brewery, and Chairman James Arkell comments; “We are delighted to be in Tetbury, a historic market town. The Priory Inn fits into our expanding portfolio of town bars with rooms. The owners and Christie & Co have been more than helpful and we look forward to getting to know our customers.”
Matthew Smith, Director at Christie & Co's Bristol office comments; “We are delighted to announce the sale of The Priory Inn. Having received numerous offers for this opportunity, Arkells Brewery was successful in purchasing the business within a few weeks of agreeing on the sale. The sale presents an exciting time for The Priory Inn and all its customers as this local brewer of 175 years with pubs, inns and hotel move the business onto the next successful phase.”
Dave & Tanya Kelly comment; "After a very personal journey owning and operating The Priory Inn, we confidently hand the reins to Arkell's family brewers, knowing that they will maintain the venue's position at the heart of Tetbury's great community. The core of our business offering over the last 14 years has been to work exclusively within a local network of "30 Mile Food Zone" food and drink suppliers. We have been very proud to showcase their inspirational produce and work closely with them and their families. We thank them all for their dedication, hard graft and contribution to our enjoyment of the hospitality trade and we wish them, our customers and Arkell's the very best for the future."
The Priory Inn was sold off a guide price of £1,950,000.