Thu, 03 Nov 2016 | COMMERCIAL PROPERTY
An award-winning, Grade II-listed Georgian pub in Norfolk has been put on the market for at least £1.9 million.
The detached, two-storey Globe Inn in Wells, thought to date back to the 18th century, was described as an attractive commercial acquisition by people managing the sale.
The pub was voted Best Independent Hotel at the 2015 EDP Norfolk Tourism Awards and was a finalist in the Best Family Dining category at the 2016 EDP Norfolk Food and Drink Awards.
The property includes seven boutique letting rooms, a 100-cover bar and restaurant, a 120-cover sheltered courtyard and has recently undergone significant refurbishment. The business also has planning permission for a further 11 en suite rooms.
It is currently under management, its owners Stephen and Antonia Bournes having recently taken an “overseeing” role.
John Grace, associate director at Christie & Co, said “Overlooking the town’s Georgian Square, the Globe Inn is an excellent year-round business benefitting from strong multiple revenue streams, with clear scope to grow further.
“Wells is a popular and growing fishing town with a busy harbour and attractive beach. Recent figures from Visit Norfolk have estimated that the value of Norfolk’s tourism industry has topped £3 billion for the first time, making local tourism in Norfolk more valuable than Devon or Cornwall.”
Stephen and Antonia Bournes said: “We have invested significantly in the Globe, and feel that we have vastly improved not just the business and the building, but more importantly each and every customer and guest experience. We will miss the fun and challenge of running such a lovely business, but we feel it is the right time for us to step away from this sector, and enjoy life in this magnificent part of the country.
“We wish the new owners and operators every success and will make sure the transition is a smooth as possible.”
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