The Clarence Court Hotel, on Clarence Square in Cheltenham has been sold to a Wiltshire-based hotelier.
The hotel is part of a Regency building once owned by the Duke of Wellington and is a popular place to stay due to its central location and history.
The sale, for an undisclosed sum, allowed the owners to pass the hotel onto an experienced hotelier so that it can continue to operate.
The deal was led by Cheltenham law firm BPE‘s corporate solicitor, Kathryn King, with assistance from Partner, Louise Grzasko. BPE’s Corporate Team advised on the sale of the entire issued share capital of the holding company with support from Commercial Property’s Thomas Christie and Managing Partner, Antonia Shield, who advised on the surrender and regrant of the lease on the hotel.
Accountancy advice for the transaction was provided by Nick Mayers of Baldwins Accountants.
Chris and Julie Taylor, the former shareholders and owners of The Clarence Court Hotel, said: “We know that the hotel is in good hands with the new owners who have spent all their working lives in the hospitality sector. They see the hotel, which currently remains open for key frontline workers and to support the local community, as a long term investment despite these uncertain times. We wish Chris and Elaine, the new owners of the hotel, the very best of luck and hope they enjoy the great location that Cheltenham has to offer.”
Kathryn said: “It has been an absolute pleasure working with Chris and Julie on the sale of The Clarence Court Hotel, especially given the uncertainty surrounding the COVID-19 pandemic which is impacting the hotel trade at this time. It is always rewarding to act for the owners of a local business and we wish the new owners all the best on their new venture.”