Shrewsbury hotel for sale at under £1m

Tue, 14 Jul 2015 | COMMERCIAL PROPERTY

A centrally positioned three-storey hotel and restaurant in Shrewsbury's town centre is now on the market for £985,000 with estate agents Halls.

Morgans at The Exchange Hotel in Bellstone is a large property featuring six en-suite bedrooms, a 50-cover restaurant and 25-cover bar area, outside seating for 26 and a first floor function room for 26 people.

The venue has been run by Quintin Morgan over the past seven years, who opened its doors to the public on 1 March 2009 following extensive refurbishment having bought it in 2008. Further works to the property were carried out in January 2014. There are 15 full and part-time employees in the business.

With the opening of a new university expected in Shrewsbury, which will be the first in the area, Mr Morgan felt it was a good time to sell up.

He said: “I feel this is a good time to market the property. The building is fantastic, in perfect condition and situated in a prime location, with a high turnover, loyal staff and lovely client base.

“With the university coming to Shrewsbury, along with a rapidly expanding portfolio, this is a great opportunity for the business to continue to grow and prosper under new owners.”

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