Leading property agent Colliers International has sold an 18th Century hotel in the Powys town of Welshpool.
The Royal Oak was acquired by independent coaching inns operator, the Bulldog Hotel Group. The deal, for an undisclosed sum, is part of a planned £20 million expansion by Bulldog which is supported by a £4.5m investment from the Business Growth Fund.
With only four previous owners since the 25-bed Royal Oak opened its doors in the 18th Century, the Grade II listed building was built by the Earl of Powis. The hotel has welcomed many visitors over the years including Her Majesty the Queen, who dined at the Royal Oak Hotel in 2010 when she visited the town for the opening of its indoor cattle market, now one of the largest in Europe.
Peter Brunt, hotels director at Colliers International South Wales and South West, said: “The Royal Oak is an attractive Georgian hotel with a strong affinity in the town of Welshpool.
“The Bulldog Hotel Group currently has well-known hotels in Yorkshire, Leicestershire, Lincolnshire, Northamptonshire, Gloucestershire and County Durham and has built a strong reputation in the industry for transforming traditional hotel businesses into busy and profitable all-day venues. As an already established business, the hotel now has a bright future under a new owner who plans to enhance the property and its offering.”
Founder and Managing Director of Bulldog Hotel Group, Kevin Charity, said: “We have ambitious plans for the next few years and the Royal Oak is a great example of what we do. Based just four miles from the English border, the Royal Oak is clearly the focal point of the town and has for centuries been the hub for visitors and local residents alike.
“We will invest in all areas of the hotel, which will complete the refurbishment of bedrooms started by the previous owners and provide a lift to the food and beverage operation which we see as a real opportunity. There is already a great core trade and so we are excited to see where we can take it.”
Recently named as one of the London Stock Exchange Group’s 1000 Companies to Inspire Britain 2015, Bulldog Hotels specialises in finding high quality coaching inns and revitalising their offer across food, drink and accommodation to attract tourists as well and local and business trade.