An Mor hotel in Bude, Cornwall has been sold to the owner of the Banwell House Pub Company, in what he is describing as the group’s ‘most significant purchase to date’.
The 27-bedroom hotel, which also comprises a two-bedroom apartment, bar, restaurant and gin school room, has been owned by its previous occupants since 2014, who transformed the business from a dated coaching inn which traded as the Hartland Hotel into a popular destination property by the coast.
In a deal spearheaded by Christie + Co, the business has been purchased by Toby Brett who also owns the Banwell House Pub Company which was established in 2010 for buying and repositioning freehold properties.
The group currently operates seven pubs in the South West; Victoria Pub & Kitchen Bath, Three Horseshoes Chapmanslade, Rose and Crown Trowbridge, Rose and Crown Bath, New Inn, Holcombe Farmshop & Kitchen and the Brewery Inn.
Toby Brett comments: “The growth of Cornwall was happening before the pandemic and looks set to continue. An Mor is a little different from our other businesses, and the most significant purchase to date. Being a hospitality business there are synergies to help both businesses. We plan to move the hotel further towards the family market, carry out some scheduled maintenance and see what the next 12 months brings.”
Stephen Champion, director in Christie & Co’s Hospitality team, who brokered the sale, comments: “We are delighted to have brokered the sale of An Mor after originally selling the hotel to our clients seven years ago.
“The staycation boom continues to fuel the hotel transactional market, with significant demand for quality assets being noted across Cornwall and Devon.”
An Mor hotel was sold for an undisclosed price.