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17/09/2021

Iconic Pittville Hotel in Cheltenham sold to local businessman

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One of Cheltenham’s best known has been sold at the asking price after going into administration earlier this year.
Sector expert Peter Brunt from Colliers International said The Hotel in Cheltenham’s Evesham Road has been bought by an undisclosed local businessman.
The Hotel dates back to the 1830s and is a Grade II listed, 12 bedroom boutique property in the popular Pittville area of the town.

It had been placed on the market with Colliers International at £2.6m at the end of last year.

Described as a “luxurious oasis of calm right in the centre of Cheltenham” The Hotel has recently undergone a complete refurbishment with the installation of bathrooms which feature whirpools, aromatherapy, chromotherapy and infinity baths.

Parkers, the hotel’s 42-seat restaurant, was named Restaurant of the Year in 2006 by Cotswold Life.

Peter Brunt said: “The Hotel retains many original features and is a luxurious oasis of calm right in the centre of Cheltenham with numerous opportunities for exploring the legendary shops or further afield in the Cotswolds.”
He concluded: “Hotels of this standard remain in very short supply in Cheltenham and the Cotswolds and this is a tremendous location. I expect the Hotel will be back to its peak very shortly under new management. The business closed shortly before completion of the sale and I expect that a high quality refurbishment will precede the re-launch the business as one of the very best small hotels in the town..”
The new owner has another hotel business in the town and is aiming to add bedroom stock to that business and treat The Hotel as a bed and breakfast annexed to a larger restaurant and bar with rooms operation.

All enquiries should be directed to Peter Brunt, Hotels Director, Colliers International on 0117 917 2000.
 
ABOUT COLLIERS INTERNATIONAL

Colliers International is a global leader in commercial real estate services, with over 13,500 professionals operating out of more than 482 offices in 62 countries. A subsidiary of FirstService Corporation, Colliers International delivers a full range of services to real estate users, owners and investors worldwide, including global corporate solutions, brokerage, property and asset management, hotel investment sales and consulting, valuation, consulting and appraisal services, mortgage banking and insightful research. The latest annual survey by the Lipsey Company ranked Colliers International as the second-most recognized commercial real estate firm in the world.
In the UK, Colliers International is one the top real estate advisory organisations, employing over 700 people in 12 full service offices across the UK and Ireland.
For the latest international news from Colliers International, visit colliers.com/news or follow us on Twitter: @ColliersIntl

Source:Empica Ltd on behalf of Colliers International.

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