Cotswolds pub sold to experienced mother & son operator team
The Royal Oak pub, located near Cheltenham in the Cotswolds, has been sold through specialist business property adviser, Christie & Co, to a mother and son team who both have a strong background in the hospitality industry, with funding secured by specialist commercial finance broker, Christie Finance.
The three storey former coaching inn dates back to the 17th century and provides a substantial trading area which can cater for up to 75 people, alongside a large outside terrace area offering additional seating. It has undergone various restoration projects over the years, while the original front of the pub retains Grade II status, the rear of the property was extended in the 1970s and an adjoining section was converted from a stable building to expand it further.
Situated in the rural village of Andoversford, just outside of Cheltenham, The Royal Oak offers a picturesque setting for those exploring the area, which is a favourite destination for visitors and holidaymakers for its scenic sights and country pursuits.
Previous owner, Mr Roger Brown, bought the pub in 2015 and decided to sell The Royal Oak to focus on other business interests but will still be staying local to the area.
New owners, Susan Adams and Graham Healy have both worked in the hospitality trade for a number of years, with Susan currently running a private members club in London and Graham working as a general manager for the Fox and Hound pub in Oxfordshire, where he is responsible for all aspects of running the business. Susan also has previous experience owning her own business, purchasing a café as a start-up before converting into a profitable business which she then sold in 2007.
Susan and Graham have appointed a new chef to work at The Royal Oak, a colleague of Graham’s from his time working at the Fox and Hound, and comment on their future plans for the business, “We will look to introduce live music on the weekends and are excited to be promoting local breweries, offering six to eight local ales on tap. On 14th December we will also be holding a big screen race night to raise money for a breast cancer charity and hope to welcome locals and visitors from further afield for a great cause.”
Jimmy Johns, Finance Consultant at Christie Finance worked with Susan and Graham to secure the funding for this purchase of their first pub. He comments, “The Royal Oak is an excellent purchase for my clients. It is a fully refurbished property upholding a great reputation in the local area. Susan and Graham are a highly experienced partnership equipped with the skills required to run a successful hospitality business. I wish them the very best for the future.”
Nicholas Calfe, Director at Christie & Co who handled the sale, comments, “The Royal Oak presented an excellent opportunity for Susan and Graham to further develop the trade in this profitable pub and to continue on building its reputation for good food and to support local ales.
“Freehold pubs in the Cotswold countryside continue to perform well, acting as hubs for the local community and typically are ideally placed for the high numbers of visitors who come to the area.”
The Royal Oak was sold off a guide price of £465,000 for the freehold interest.