18th century market town hotel snapped up
AN 18th century townhouse hotel has been acquired by The Coaching Inn Group.
The Kings Head Hotel in Richmond has been bought by the group, which intends to invest £1m refurbishing the property.
Built as a gentleman’s townhouse in 1717, the 26-bed hotel was sold by the Ashdale Group.
Colliers International was looking at offers in the region of £2m, though the final sale price was undisclosed.
The hotel maintains its Georgian features, as well as the ballroom, in which renowned composer and pianist Franz Liszt performed in 1841.
It has an al fresco dining area to the front of the hotel, known as ‘Turner and Liszt’ after the hotel’s most famous visitors.
The Best Western hotel is Boston-based The Coaching Inn Group’s fifth acquisition in 12 months.
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Julian Troup, head of UK Hotels Agency, Colliers International said: “Once hailed as ‘the finest hotel in Richmondshire’ by artist J.M.W Turner, the Kings Head Hotel is a fine example of Georgian architecture in one of the North of England’s most romantic towns.
“The hotel perfectly meets The Coaching Inn Group’s criteria to acquire high quality inns with the potential to revitalise their offer across food, drink and accommodation.”
The Coaching Inn Group has a portfolio of hotels across Yorkshire, Leicester, Lincolnshire, Northampton, Gloucestershire and County Durham.
It is in the middle of an aggressive expansion programme, and intends on doubling its portfolio in the next three years.
Kevin Charity, founder and managing director, The Coaching Inn Group, added: “Over the past 12 months we have expanded The Coaching Inn Group with the acquisition of four new inns and have plans to add another five to the estate this year.
“The Kings Head is a great example of what we do and the locations we are looking to expand into. Based in the heart of North Yorkshire, the Kings Head is a key venue in the town offering relaxed and comfortable surroundings for visitors and local residents alike.”
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