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Gloucestershire Business News

Gloucester hotel and pub under offer with £1.65m guide price

The Grade II listed New Inn in Gloucester city centre is currently under offer, after being placed on the market through real estate firm Savills.

Built in approximately 1460, the pub and hotel on Northgate Street comprises of a four-storey semi-detached building complete period features including exposed beams, sash fenestration and a multi-pitched slate tiled roof.

Operating as a coaching inn, the New Inn  provides a variety of rooms which are said to appeal to contractors working in the area on weekdays, couples visiting for weekend breaks as well as tourists visiting the wider area.

The building is arranged around a courtyard with cobbled tiles in the centre with galleried corridors above.

Internally, the property boasts extensive trade areas, including a closed nightclub which has conversion potential (subject to planning).

A total of 36 letting bedrooms are set out over upper ground, first and second floor levels with three single, 19 double and 14 twin rooms.

Savills add that the room rates for the hotel fluctuate dependent upon the time of year.

The advert for the property reads: "We can confirm that the most recent financial year (2019), the hotel had a turnover in the order of £820,000 (net of VAT), with a split percentage between accommodation, food and beverage of 40:25:35 respectively.

"More information on the hotel's trading performance will be provided to seriously interested parties upon request and status."

It adds that the New Inn's current owners are asking for offers in the region of £1,650,000.

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