Specialist business property adviser, Christie & Co, has completed on the sale of The Fourways Hotel, a closed 18th century Grade II listed hotel in Blyth, Nottinghamshire.
The Fourways Hotel, a landmark building within the East Midlands town since the early 1800s, occupies a site area of approximately 0.46 acres in the centre of the village and is surrounded by residential and commercial properties.
Previously owned by Hawthorn Leisure, an award-winning community pub company with a national portfolio of over 700 venues across England, Scotland and Wales, the hotel was brought to market through Christie & Co in July 2020. It received a great deal of interest from a range of prospective buyers, who identified it as a unique opportunity.
Gavin Webb, Senior Business Agent in the Pubs & Restaurants team at Christie & Co lead an exhilarating marketing campaign; generating 30 viewings which resulted in several bids and numerous cash offers. Within eight weeks the business was sold in excess of the asking price, with a period of only five weeks between the deal being agreed until completion, an exciting result in light of the effects of the COVID-19 pandemic on the hospitality sector.
Gavin comments, “The unprecedented amount of interest and offers we received for the Fourways Hotel underlines the ongoing demand we are experiencing for licensed opportunities in the East Midlands. I would like to wish Rajinder the best of luck with his plans for the site.”
The Fourways Hotel was sold in excess of the £220,000 asking price.