Two hotels and historic inn in Gloucester put on sale for £10m
Three hotels, with a combined asking price of £10m, have been put up for sale in Gloucester city centre.The New County Hotel and Central Hotel are both on sale for £4m, while the historic New Inn is priced at £2m.In the listing for the Central Hotel, a pre-planning application has been submitted to the city council, with the possibility of turning it into a 56-bed House in Multiple Occupation (HMO).HMOs see people who are not related sleeping in separate rooms but sharing facilities such as kitchens or bathrooms.
The hotels are all owned by the same operator.Emily Gibbon, manager of Gloucester's Business Improvement District (BID) said that the New Inn is a "remarkable historical landmark" and that it was important that the new owners treat it properly."It was built in the 1400s and it took about 20 odd years to complete, but it is the most complete galleried inn in the whole of England," she said."It's quirky. It's got that character. And whoever takes it on, I think they will have to love this place. "It's a prime example of a listed building still in use as a hotel."It's very important that it stays as it is. It is a high class listed building. "Anyone who comes in needs to work closely with the conservation area officer and with Historic England."
Cristina Balekjian, director of UK hospitality analytics at CoStar Group, said the properties had been put on the market despite strong local demand."When we look at the sort of performance data for hotels in the Gloucester hotel market, hotels in that market are performing well still," she said."They're still achieving revenue growth. "So that's a positive trend, especially since overall in the UK, the hotel market has been relatively slow this year compared to last year, given the economic uncertainty that we've been going through."
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