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Historic town centre hotel, The Angel and Royal, acquired by experienced hotelier in deal brokered by Colliers International

07 07 20 Historic town centre hotel The Angel and Royal acquired by experienced hotelier hero

Colliers International has sold the characterful 31-bedroom Grantham town centre hotel to Dean Harrison, an experienced hotelier who will immediately undertake a comprehensive refurbishment programme. Colliers acted on behalf of the owner, Ashdale Hotels, which has made the decision to rationalise its hotel portfolio ownership.


The business was marketed off a net turnover in excess of £800,000 per annum and the sale of the freehold asset and business was at an undisclosed figure off an initial guide price of £1.75million.

Dating back centuries and with a fascinating history including visits from several Kings, the Angel and Royal serves as a focal point in this historic town and provides traditional quality all round hotel facilities combining ancient character and modern comforts. With 31 letting bedrooms attracting strong corporate and leisure trade and with an attractive variety of bar, dining, meeting and function facilities, the Angel and Royal is a successful town centre business generating high profits year-on-year.

The hotel also benefitted from an unused cottage, stables, offices and store which provide tremendous potential for extra facilities.

The transaction was brokered by Julian Troup, Head of UK hotels agency at Colliers International, who said: “Since UK hotel trading shut down there had been modest interest in the hotels and hospitality businesses that we have on the market. I am pleased however to confirm that we have recently seen an improvement in the volume of enquiries, and more particularly the number of formal viewings taking place in the last couple of weeks.”

Troup added: “This is encouraging,  bearing in mind it was felt that the most significant uplift in overall activity, and more particularly positive buyer sentiment, would arrive when everyone can see that there is indeed a pent up demand particularly for “Staycation” business in the UK which is already being proven with many clients reporting a healthy flow of forward bookings since the date for opening was rumoured in England. Although it does look as though holidaymakers will indeed be able to travel abroad this year, it is generally felt that many will prefer to stay in UK leisure destinations.”

The sale of the Angel & Royal follows sales by Colliers of two other hotels earlier this week; the historic 15-bedroom George hotel in Easingwold, North Yorkshire  and the traditional coaching inn, The Bull Hotel in Burford, Oxfordshire.

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Julian Troup

Head of UK Hotels - Agency

Hotels Agency

London - West End

I originally trained with a long established firm of Chartered Surveyors based in Manchester and have been working in the licensed, leisure and hotel property market since 1987. I joined Colliers in 2007 to head up our UK Corporate hotel operation. I was appointed Head of UK Hotel Agency during 2011.  Since the beginning of 2003 I have sold or acquired over 100 provincial hotels on behalf of clients of asking prices ranging from £1.2m to in excess of £20m.  In addition to the managerial responsibilities, I remain focused on handling larger private and corporate hotel transactions throughout the UK.

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Hannah Zitren

Associate Director

Marketing & Communications

Manchester

I am responsible for media relations and generating coverage in top tier broadcast and print media. I work across a range of Colliers’ UK & Pan-EMEA business lines advising on their strategic and tactical PR needs.

My role includes:

·         Developing and executing PR plans for the various business lines to help promote their key messages across all aspects of the media - print, broadcast and social.

·          Media evaluation and reporting objectives, targets and successes across the business.

·         Reputation management and crisis management.

·         Media training.

·         Media engagement: setting up meetings with top tier media and various internal spokespeople to continuously expand and build a presence with property and vertical media network.

·         Consistently delivering service excellence, meeting with business heads of a regular basis and trying to influence the research as much as possible to ensure our content has a strong enough news hook.

·         Key campaigns that I work on include MIPIM; MAPIC; REVO; Midsummer Retail Report; IHIF; Cities of Influence in addition to a host of all alternative property sector research reports.

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