Ivy Bush Royal Hotel sold to international group operator
Specialist business property adviser, Christie & Co has completed on the freehold sale of the Ivy Bush Royal Hotel, situated in a prominent town centre position in Carmarthen, to Compass Hospitality Holdings (UK) Limited.
The traditional period property dates from the 18th century, with later modern additions providing substantial letting accommodation with 70 en suite guest rooms. Sitting in 1.5 acres, the hotel also includes a range of bar, restaurant and private function spaces, ideal for weddings as the venue is registered for civil ceremonies, plus leisure facilities such as a gym and sauna. The outdoor space comprises well-kept gardens, external dining trade areas and a private customer car park for 90 vehicles.
Previous owners and directors of The Ivy Bush Royal Hotel, Paul & Ann Jaycock have continually invested in the business over the years to create a high quality 3 star hotel and have built up a significant presence and reputation both within the local leisure and business communities. Paul Jaycock comments, "After 28 years of active ownership of a number of hospitality businesses in Carmarthenshire and Ceredigion, Ann and I have decided to retire. We would like to thank all staff and customers of the hotel over the last 15 years for their loyalty and support. We would also like to wish the new owners every success in this venture.”
The business will continue to be managed by existing staff under the direction of new owners, Compass Hospitality Holdings (UK) Limited which operates hotels in Thailand, Malaysia and the United Kingdom. Ivy Bush Royal Hotel will be part of the company’s portfolio of 16 hotels in the UK and operating as its second hotel in Wales, alongside the Citrus Hotel in Cardiff. Harmil Singh, CEO of Compass Hospitality comments, “Our maiden entry to Wales in Cardiff has proven to be extremely successful and we are pleased to further expand our business in Wales.”
“While the Ivy Bush Royal Hotel is already performing very well, particularly in the F&B sector, we feel there is upside opportunity to further grow the business through synergies with the other hotels in our portfolio as well as a strategic refurbishment programme.”
Corrina Jones, Business Agent based in Christie & Co’s Cardiff office, who handled the sale comments, “We are pleased to have been able to assist Mr & Mrs Jaycock in securing a successful completion and would like to wish them all the best for their well earned retirement from the trade. The business is perfectly located for Compass Hospitality Holdings (UK) Limited to add to their existing portfolio of properties and increasing their profile within Wales, which represents an exciting time for all staff and customers of the Ivy Bush Royal Hotel.
“We are seeing increased activity within the region since January 2018 and this is reflected in increased viewing numbers, offers presented and completions, proving a thriving market in South Wales.”
Sheraz Akram, Head of Corporate & Commercial at DJM Solicitors assisted the vendors in the sale of Ivy Bush Royal Hotel.
Ivy Bush Royal Hotel was sold off a guide price of £2,700,000.