Colliers’ Simon Wells and Peter Brunt have taken on eleven new properties in the West Country in the last three weeks alone, and are busier than ever coping with an unprecedented surge in business as would-be owners scour Wales and the West for new business opportunities.
Hotels director Peter Brunt said it was a question of owners taking advantage of the improving market: “We have been active throughout the downturn but now the market is beginning to take off. We expect to see something of a ‘Spring rush’ every year but we haven’t seen anything on this scale since 2007.”
Properties being offered range from top flight Bath hotels to country pubs and boutique hotels across Wales and the West, with the noticeable growth in the market encouraging many owners to take the opportunity to get on with plans that some had shelved over the last few years: “My take is that owners are seeing that we can sell property and have now decided to take the plunge after years of putting up with quieter market conditions.
Canny buyers are already on the case
“The properties being offered are from across the hotels spectrum – and the reasons for sale we are seeing are underlining the fact we are not just talking about distressed sales. The message is whether you are looking for a new business opportunity or a fresh start in a new career as a hotel owner, we are certain to have an opportunity to suit every pocket.
“We are still seeing some confidential sales, especially at the higher end of the market, but confidence is clearly returning and the market is picking up every week. This will undoubtedly impact on prices, which is why the canny buyers are already on the case.”
Recent Wales and West hotel instructions
Henry Guest House, Bath £1.3m
Deganwy, Looe £525k
Casterbridge, Dorchester £675k
Yeovil Court, Yeovil £1.5m
Cleeve Hill Hotel, Cheltenham £875k
Brynafon Hotel, Rhayader £425k
The Three Horseshoes, Wixford new lease
Confidential: Bath hotel £3.75m
Confidential: Cotswolds inn £1.5m
Welsh borders town hotel £1.25m
Cotswolds honey pot B&B £875k
All enquiries should be directed to Peter Brunt, Hotels Director, Colliers International on 0117 917 2000.
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