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30 May 2018 | Hotels

Preston Hotel in Yeovil sold to local business owner

Specialist business property adviser, Christie & Co has successfully completed the sale of Preston Hotel in Yeovil, Somerset.

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The property consists of three separate buildings with the main house being a substantial Victorian brick built property arranged over three floors with six en suite bedrooms, a large single storey annex which provides a further seven en suite bedrooms, and a two-storey, detached three bedroom cottage for owner’s accommodation. Additionally, the venue offers a bar and restaurant with combined capacity for over 70 covers, a well-kept trade terrace and garden, and extensive car park for up to 18 vehicles.

Located within easy reach of the town centre in an elevated and prominent position, the hotel is perfectly placed to attract passing trade from the nearby main road and caters to visitors exploring the picturesque local area, plus weekday trade from commercial and corporate visitors. 

The previous owners, Paul & Lisa Craig, made the decision to sell Preston Hotel to concentrate on other business interests.

Following an open marketing campaign, high interest was shown from a variety of potential buyers, ultimately resulting in a sale to Biz Oozageer who owns a care home portfolio across the region and intends to continue operating the Preston Hotel as a hospitality business. 

Matthew Smith, Director of Christie & Co based in the Bristol office comments, “The buyer pool continues to expand for hospitality businesses in the South West due to a lack of available opportunities to satisfy the demand and we are delighted for Biz Oozageer who has made the decision to diversify into the hospitality sector and with it will bring a wealth of business experience and no doubt an exciting time for the business.”

The Preston Hotel was sold off a guide price of £475,000.