The Old Bakery, a 14-bedroom hotel in Kenilworth, Warwickshire, has been sold to a new local buyer with ambitious plans to grow the business.
The historic hotel, which first opened as a traditional bakery in 1825, has been owned by Alan and Janet Blackburn for the last 14 years who have now handed over the reins to Sari Singh and his sons.
Singh plans to build on the hotel’s existing reputation by extending the presently limited operating hours, providing a food offering during the day, and renovating the letting accommodation in order to attract repeat corporate and leisure customers.
The Old Bakery was sold on a freehold basis, off an asking price of £1.250m.
Singh comments: “This is our first foray into the hotel sector and we very much look forward to further developing the business left behind by Alan and Janet, whilst upholding the existing offering that has been so well supported by the local and wider community for many years.”
The Old Bakery underwent a significant renovation in the 1990s and was converted into a hotel. Alongside the 14 bedrooms there is also an on-site bar and restaurant.
Joshua Sullivan, senior business agent at Christie & Co handled the sale and comments: “The Old Bakery garnered significant interest during the marketing process on account of both its profitability and reputation, as well as the fact that it commands a prominent position within the affluent town of Kenilworth. The transaction signifies that well-traded assets in sought after locations continue to attract high levels of interest despite the current socio-political headwinds. We wish the very best for the new owners.”