Somerset hotel sold to first time buyer
Specialist property business adviser, Christie & Co has successfully completed on the sale of The Langport Arms Hotel in the market town of Langport, Somerset.
The Grade II Listed property is comprised of nine en suite letting rooms, two bedroom owner's accommodation , a two storey one bedroom cottage and planning permission to create a further three letting bedrooms in the outbuildings. Ideally located, the hotel benefits from a loyal and local following, an established food and event led operation and serves as the perfect touring base for holidaymakers and outdoor enthusiasts, looking to enjoy the beautiful walkways and cycle routes.
Having spent many years in the industry, former owner Malcolm Maynard decided to retire from the trade and take life a little easier. New owner Howard Slater of Rebus Securities Ltd will inherit a trusted team to operate the business and comments on the sale; “We are delighted with this acquisition and are looking forward to working with the staff to continue the excellent standards which the hotel already enjoys.”
Matthew Smith, Director at Christie & Co's Bristol office comments; "The sale of The Langport Arms Hotel further demonstrates the demand for hospitality businesses that offer clear upside to further enhance the trading performance. Howard Slater, the successful purchaser will come with his own ideas to further increase the offering and we wish him all the success for the future.”
The Langport Arms Hotel was sold off a guide price of £645,000.