Wed, 13 Nov 2013 | BUSINESS SALE
A hotel, which sits at the heart of Wales’ smallest city St David's, has been placed on the market for £750,000.
Colliers International has been tasked with selling the three-star, 16-bedroom hotel, which has only changed hands once in the past 60 years.
The Old Cross Hotel, which opens its fully licensed bar and restaurant to residents, locals and visitors, faces the Cross Square – the centre point of the city.
The hotel last switched owners in 2002, and the previous owner had run the hotel since 1956. The building itself dates back to 1766, and the original building may have been constructed at an earlier date that century.
Hotels director from Colliers International Peter Brunt noted: “The Old Cross fits neatly into the middle market with strictly limited competition. With 16 simple but comfortable bedrooms it’s perfect for the many guests that stay and the popular public areas cater for residents and non-residents alike.
“It also offers clear opportunity to increase profits. The pretty garden is a real draw and could be exploited further to take advantage of the central position and all-year round visitors to the city.”
Mr Brunt is optimistic about the level of interest the sale will attract.
Visitors to the area come for the Pembrokeshire coastline and sandy beaches for walking or sightseeing holidays.
The area was given city status by Queen Elizabeth II owing to the presence of the St David’s cathedral, which was a draw for pilgrims in the middle ages as well as modern day visitors.
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This is a unique opportunity to acquire two well-established B2B companies operating across multiple sectors throughout the UK, boasting strong client relationships and secure contracted revenues poised for further expansion.
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This business presents an enticing opportunity with established relationships with blue-chip organisations globally, a strong client retention rate, and the potential for relocation.
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