The George Hotel in Cheltenham has gone on the market with a guide price of £3.6m, just over 18 months after it was acquired by Cotswolds Inns and Hotels.
The Grade-II listed hotel, situated in the popular tourist hub of Cheltenham, is currently owned by the Cotswolds group, which took over the property in February 2016.
Now the 31-bedroom hotel is looking for a new owner once again.
The hotel dates back to 1840 and is made up of five converted townhouses, located on St George’s Road to the west of the town centre, close to shops, amenities, the famous Promenade, The Montpellier district and two miles from the main train station.
Matthew Smith, director at Christie & Co’s Bristol office says that there is also the opportunity to create more bedrooms to maximise profit.
He says: “This is a rare opportunity to purchase an established freehold hotel business in central Cheltenham. We expect to see high demand from buyers, both local and international, looking to secure a freehold asset in one of the UK’s most desirable towns. The opportunity provides an array of possibilities to maximise gross profit margins by reconfiguring and creating more bedrooms, continue operating as a full service hotel or perhaps an alternative use.”
Cotswolds Inns and Hotels Group is a portfolio of nine properties all situated in the region, mostly operating in the three-star market.