St Andrews Town Hotel in Droitwich Spa in Worcestershire has been sold, as its current owner looks to launch a new spa at his remaining one property in Cirencester.
The hotel has been owned by Aidan Stevens since 2012, but now has been acquired by Khurshid Anwar, an experienced operator who has owned Ely House Hotel in Wolverhampton for 15 years.
Stevens has taken the decision to sell to focus on a new spa development at his other hotel, Stratton House Hotel, situated in Cirencester, Gloucestershire.
Situated on 1.6 acres, St Andrews Town Hotel occupies a two storey Georgian building, constructed in 1820 originally as the home of the Town Clerk of Droitwich Spa.
The 31 bedrooms are situated across the ground, first and second floors. The ground floor of the hotel comprises a reception area, bar lounge, garden room, library and a drawing room/restaurant, accommodating for over 100 covers altogether.
Several extensions have been added to the original building, including an orangery which can accommodate 150 covers situated in 1.6 acres of gardens.
New owner Anwar now plans to operate both businesses and further expand his portfolio in the future.
He comments: “I am extremely excited about becoming the new owner of such a historical hotel. My congratulations to previous owner for his achievements. I am looking forward to taking the hotel to the next stage to becoming a first choice destination for our guests visiting the area either for business or pleasure.”
Charles Jones, senior business agent at Christie & Co handled the sale and comments: “The hotels market in the region continues to buzz with activity, both in terms of the number of opportunities available and the volume of interested buyers, ranging from overseas investors, owner-operators and corporate buyers. In a similar vein, the positive growth in appetite across the funding market demonstrates the strength of the sector, particularly for experienced operators and well-located hotels.”
St Andrews Town Hotel was sold off a guide price of £1.55m for the freehold interest.