Wed, 24 Aug 2011 | BUSINESS SALE
A buyer is being sought for a historic Welsh pub and hotel that dates back as far as 1689.
The King's Head Hotel, in the Mid Wales market town of Abergavenny is being sold as a going concern for an asking price of £1.3 million, due to the retirement of its current owners.
Ken and Ruth Watkins, who have owned the property and business since 1999, have put the enterprise up for sale through agents Preferred Commercial Nationwide.
The premises is a focal point in the centre of the town, and comprises 14 en-suite bedrooms, a restaurant, bar and function room, which is housed in an original stable block.
A representative of the owners said there was ample scope for further development of the three-storey building and through bringing more business in that would make use of the function room and facilities.
"This is an ideal opportunity to acquire an already thriving hotel, with one-bedroom owners' accommodation and scope for future growth," the representative said.
The business's turnover is around £620,000 and has an excellent reputation for high levels of quality and standards. The one-bedroom owners' accommodation comprises a lounge/diner, kitchen and bathroom.
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A licensed restaurant in Brighton, East Sussex, featuring alfresco seating for 60 covers, is available for purchase.
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