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A Grade II Listed hotel in historic Colchester is sold
A Grade II Listed hotel situated in Colchester, the oldest recorded town in England, has been sold through the Ipswich Office of leading international hotel agents, Christie + Co, with Christie Finance, the independent mortgage brokers, arranging the funding for the purchaser.
The Peveril Hotel occupies a prominent position at the top of North Hill in the heart of the town centre, with trade attracted during the day and in the evening through the variety of bars and restaurants situated along the street. Colchester is the northern most county town of Essex and has many historic features, including a castle and several fine examples of Roman architecture.
The hotel is set over three stories with the ground floor comprising a small reception area, a public bar with seating for 20 and a restaurant which can accommodate 30 covers and the 17 letting bedrooms are arranged on first and second floors. Behind the hotel, there is a three-bedroom self-contained owner’s cottage, a small courtyard and a two-storey timber barn.
Mark Page, from Christie + Co’s Ipswich Office, who handled the sale, commented: “The Peveril Hotel was owned by Jane Mills for over 17 years and has a good all year round business and a substantial level of passing trade. The business has been sold to Acumen Ltd, who plan to redevelop the site, upgrade the rooms and create a new restaurant on the ground floor.”
Offers in excess of £850,000 were sought by Christie + Co for the freehold interest of the Peveril Hotel and it was sold for an undisclosed sum. Nick Baker, from, Christie Finance, the independent mortgage brokers, arranged the funding for the purchaser.
For further information please contact Mark Page at Christie + Co or Nick Baker at Christie Finance via the Ipswich Office on Tel: 01473 256588.
Our ref: Ips797
