A hotel in the Welsh borders town of Montgomery which has seen its revenue more than double over the last seven years, is on the hunt for a new owner.
The Grade-II listed Dragon hotel has been brought to market with a price tag of more than £1m as its current owner Mark Cadwalladar and other directors look to sell to focus on other business interests.
The former coaching inn benefits from a strong domestic and commercial customer base and combines a traditional timber beamed exterior with a refurbished interior and is for sale through Colliers International for £1,095,000 freehold.
The Dragon hotel comprises 20 bedrooms, a large bar and 40-cover restaurant, as well as an indoor pool and two-bedroom owners’ cottage on site.
Vendor Mark Cadwallader said: “Montgomery is a very attractive little town with a great community feel and a lovely place to live and run a business. It offers the best of both worlds, surrounded by the beautiful mid Wales countryside, ideal for walks and a more relaxed way of life, whilst only being 30 minutes away from Shrewsbury and the motorway network.”
Peter Brunt, director in the Hotels Agency team at Colliers International, said that both The Dragon and the Marches town of Montgomery appealed to a diverse range of visitors, and this broad business base was likely to prove attractive to potential purchasers.
“This is a hotel which draws a range of business to it, from tourism to a regular commercial trade, and which has seen revenue double over the last seven years,” he said.
“As well as having a reliable and good class bar and restaurant trade, The Dragon is able to feed off functions in the newly renovated town hall building next to it.”
Peter Brunt said: “Having achieved their primary aims for the business and with other business interests clamouring for their attention, they have decided that now is the best time for them to hand over The Dragon to new owners.”