Hotel sales up to pre-recession levels says UK agency

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Colliers International has recorded a surge in business in Wales and the West of England as more hotel owners look to sell. 

The agency’s Simon Wells and Peter Brunt have taken on 11 new properties with a combined asking price of £13m in the last three weeks.

Brunt said owners were taking advantage of an upturn in the hotel market: “We expect to see something of a spring rush every year but we haven’t seen anything on this scale since 2007.”

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Properties being offered range from luxury hotels in Bath to country pubs and boutique hotels across Wales and the West.

“My take is that owners are seeing that we can sell property and have now decided to take the plunge after years of putting up with quieter market conditions" added Brunt.

“We are still seeing some confidential sales, especially at the higher end of the market, but confidence is clearly returning and the market is picking up every week.

"This will undoubtedly impact on prices, which is why the canny buyers are already on the case.”

The 11 new-to-market properties referred to are: 

Henry Guest House, Bath £1.3m
Deganwy, Looe £525k
Casterbridge, Dorchester £675k
Yeovil Court, Yeovil £1.5m
Cleeve Hill Hotel, Cheltenham £875k
Brynafon Hotel, Rhayader £425k
The Three Horseshoes, Wixford new lease
Confidential: Bath hotel £3.75m
Confidential: Cotswolds inn £1.5m
Welsh borders town hotel £1.25m
Cotswolds honey pot B&B £875k

 

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