A family-owned pub group operating in Yorkshire has brought to market a 14-bedroom hotel and restaurant in its portfolio, deciding to refocus its business on brewing.
Situated in Harrogate, the Harrogate Brasserie has been owned and operated by Timothy Taylor’s for the last two years, after acquiring the site from Richard Finley to develop the property as its flagship in the area.
Timothy Taylor’s however is now deciding to sell the high footfall site to focus capital expenditure on the company’s brewery and significant investment into it.
The Harrogate Brasserie occupies a stone built, three-story building, and is home to 14 bedrooms and apartments as well as the restaurant.
Tim Dewey, chief executive of Timothy Taylor’s comments: “While many breweries have evolved over time to place more focus on their pub estate, our main efforts have always been on brewing. Since acquiring the Harrogate Brasserie, we have come to realise our limitations in this area, given our size and expertise. As a result, our hope is to sell the Harrogate Brasserie to a leisure specialist that can do this fantastic outlet justice.”
David Lee, regional director – North East at Christie & Co comments: “We are delighted to be working with Timothy Taylor Ltd to help sell the Harrogate Brasserie. We anticipate interest levels will be further increased due to the fact the Harrogate Brasserie is a fine building with the benefit of a license and is a well-established hospitality business in Harrogate town centre.”
The Harrogate Brasserie has been brought to the market at an asking price of OIEO £1.35m for the freehold interest of the main building and OIEO £1.675m for the freehold interest of the main building plus the house, on a share sale basis (Harrogate Brasserie Limited).
Timothy Taylor’s operates 19 sites across Yorkshire. Founded in 1858 by Timothy Taylor’s, the family owned brewery opened its first brewery in Keighley, West Yorkshire, relocating to Knowle Spring in 1863.