Grade II listed Georgian Hampshire hotel sold for the first time in 40 years
Specialist business property adviser Christie & Co has announced the sale of the Lysses House Hotel, a highly regarded, high street hotel located in Fareham, Hampshire.
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The Georgian Grade II listed Lysses House Hotel features 21 en suite bedrooms, an extensive bar and Richmond Restaurant as well as an external sun terrace with seating, which is a popular feature during the summer months.
Prominently located in Fareham’s High Street close to the popular South Coast conurbations of Southampton and Portsmouth, the property benefits from its proximity to many well-known visitor attractions and excellent connectivity to London, the South East and the South West via the M27, A3 and M3 motorways.
The Richmond Restaurant has access to the terrace overlooking the landscaped gardens providing seating for 30 covers and offers guests a great place to relax, whilst the Richmond Restaurant can cater for up to 60. The Hampshire Suite provides capacity for up to 100 making it ideal for large parties, group lunches or dinners, wedding receptions and major functions. The hotel also features three further function suites suitable for ‘boardroom’ style breakout rooms or other hospitality uses.
The hotel has been independently owned and operated by Colin Mercer since 1986 and, after substantially upgrading the hotel’s facilities and expanding the range of services on offer, they have decided to hand the reins over to a new operator.
Colin said, “We bought the hotel 40 years ago and have enjoyed working in this beautiful location. The business has brought us significant repeat patronage from both private and group business throughout our tenure.
“I have decided to retire and to hand over the successful business to a new owner to take to the next level. We are deeply grateful to our dedicated staff, past and present, for their unwavering support throughout the years.
“We would also like to thank our guests for your loyalty, friendship and support over the years. It has been an incredible privilege to welcome so many wonderful guests and to be part of your holidays, celebrations and memories.”
The hotel has been acquired by a local investor looking to expand their hospitality portfolio.
Ed Bellfield, Regional Director - Hotels at Christie & Co, who managed the sale process, commented, “The sale of the Lysses House Hotel represented an exceptional opportunity for new owners to continue the hotel’s success.
“The hotel business benefits from significant repeat patronage and the outstanding reputation of the business is a testament to the continued re-investment and stewardship over recent decades. We wish Colin well on their retirement from the hotel business.”
Lysses House Hotel was sold at an undisclosed sum, off a freehold guide price of £1,500,000.
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