Operator snaps up £2.15m York hotel
A YORK hotel has been sold to bed and breakfast operator The B+B Collection, from an asking price of £2.15m.
The Groves Hotel in York was sold in a deal negotiated by Colliers International.
The hotel, on St Peter’s Grove, has 26 bedrooms, a dining room and staff accommodation.
The B+B Collection has acquired The Groves as they grow their portfolio of Bed and Breakfast Hotels across the country.
The brand has opened B+B hotels in Edinburgh, Weymouth and Wickham, with The Groves being their fifth acquisition in just over a decade.
The company specialises in acquiring historic listed buildings that have been redeveloped.
Peter Bean, who advised the vendors on the sale, said: “Superbly situated an easy walk from the Minster, The Groves was acquired by the current owners in 2009 and converted from a training centre into a highly profitable Bed & Breakfast business.
“York was the natural next location for B+B Collection which has grown a successful portfolio of hotels in cities which enjoy a strong tourism trade. We look forward to seeing B+B Collection put its unique stamp on the property.”
Colliers acted on behalf of the vendors, a private client.
