A freshly refurbished 12-bed independent hotel in Norfolk has been brought to market after a quarter of a decade under its current ownership.
Specialist business property adviser, Christie & Co has been instructed to oversee the sale of Castle Hotel, a three-AA-star venue in the centre of the Norfolk town of Downham Market.
The period Grade II listed property boasts 12 en suite letting bedrooms on the upper two floors, which have been recently refurbished. The ground floor comprises a bar and dining areas as well as a private meeting room.
The hotel was owned and operated by Helen and Howard Fradley for more than 25 years. The pair is now looking to retire from the business. They commented: “We have had an amazing 27 years here and have watched the business grow from strength to strength, but it is now time for us to move our lives in a different direction.’’
Tim Gooding, director at Christie & Co, commented: “The Castle Hotel has been transformed in recent times with a full refurbishment programme so that the letting rooms in particular have become sought after by both commercial and leisure customers seeking exceptional quality and service standards.
“The hotel’s food and bar attract a good deal of local custom and overall the business has become highly profitable and would be an ideal purchase for a buying couple who would benefit from the growth and profitability created by the sellers. The Castle Hotel is a property we’d genuinely recommend is viewed at the earliest opportunity.”
The asking price for the freehold property and business is £495,000.