The Chequers Hotel in Berkshire sold through Christie & Co
Specialist business property adviser, Christie & Co, is pleased to announce the sale of The Chequers Hotel in Newbury, Berkshire.
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Originally built in the late 18th Century with later additions in the mid-19th Century, The Chequers Hotel is a cherished establishment close to the centre of Newbury town centre, which has built a renowned reputation in Newbury for both accommodation and food and beverage offerings. The highly successful hotel features 56-bedrooms, an extensive bar and restaurant, and an external rear terrace garden with a car park.
The hotel has been sold for an undisclosed sum to MZaman Holdings Group, who add the property to their existing portfolio of nine UK hotels. Brilliant Hotel Collection has been appointed to manage the hotel for the family.
New owner, Anoob Saban comments, “I am delighted to welcome The Chequers Hotel to Brilliant Hotels Collection. It provides an excellent opportunity to showcase the ‘Brilliant’ standards and service. The property will be a valuable addition to our existing portfolio, and we are committed to the growth and development of this prestigious hotel.”
Ed Bellfield, Regional Hotel Director at Christie & Co, who handled the sale, adds, “The sale of The Chequers Hotel represents an exceptional opportunity for the new owners to benefit from a highly successful hotel business, with significant repeat patronage, largely due to its renowned reputation and town centre location.
“The reputation and success of the business is a testament to the stewardship over recent years, combined with its enviable location. We wish the previous owner, George, well on his retirement.”
Previous owner, George Mavrommatis, comments on the sale, “Whilst it is of course sad to be selling a business, now is the right time to step back. We wish the new owners every success during their ownership of this great and profitable hotel in Newbury town centre. Most importantly we would like to thank the staff, with whom we have shared this memorable journey, for their hard work and dedication.”
The Chequers Hotel was successfully sold off a guide price of £2,650,000.
For further information on this press release, contact:
Niamh Toman, Junior Corporate Communications Executive
P: +44 7768 646 984 or E: Niamh.toman@christie.com
Contact the agent:
Ed Bellfield, Regional Director – South Hotels
P: +44 (0) 7713 061171 or E: Ed.bellfield@christie.com
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