Specialist business property adviser, Christie & Co, has announced the sale of Beggars Reach Hotel, a popular hotel in the village of Burton, Pembrokeshire.
Set within seven acres of landscaped gardens and lawns, Beggars Reach Hotel comprises 30 ensuite bedrooms as well as a restaurant, bistro/breakfast room, and several function and event spaces, including an Orangery.
Tastefully decorated and boasting sweeping views across the surrounding South Wales countryside, the hotel is a popular wedding venue and hosts events throughout the year for both leisure and corporate visitors. The hotel also has potential for further development, with planning permission previously approved for twenty additional guest bedrooms and a spa facility.
Beggars Reach Hotel has been sold to a local business family, who already own an established fish and chip restaurant in the harbour town of Tenby, along with other retail and commercial property projects. The sale was funded by Christie Finance, and the acquisition supports the family’s continued plans to expand their portfolio.
Sam Roberts, Senior Broker at Christie & Co who managed the sale, said: “After the previous owner purchased the business through us early last year, due to unforeseen personal circumstances there was a need to re-sell the business. A full marketing campaign was undertaken, which resulted in a vast amount of interest in the business. Within a matter of weeks, the right buyer was found and the transaction moved through to completion, ably assisted by Christie Finance who secured funding for the buyer. I would like to thank the outgoing owners for entrusting us with the sale of their business; it was a pleasure to sell Beggars Reach for the second time and we wish the incoming owners every success with their plans for the hotel.”
Tamara Ryan, Finance Consultant at Christie Finance who funded the sale, said: “It was an absolute pleasure to support my client with the purchase of Beggars Reach Hotel. An experienced local business partnership, they have lots of ambition and creative ideas to really grow the success of this hotel. We were able to secure funding within a couple of weeks of the offer being accepted and worked in partnership with Christie & Co to see this through to completion. The funding obtained was highly competitive and shows the appetite that is currently available for funding hotel acquisitions. I wish my client all the success with this new venture.”
The hotel was sold off an asking price of £950,000.
