Specialist business property adviser, Christie and Co has completed on the freehold sale of the Ivy Bush Royal Hotel, situated in a prominent town centre position in Carmarthen, to Compass Hospitality Holdings (UK) Limited.
The business will continue to be managed by existing staff under the direction of new owners, Compass Hospitality Holdings (UK) Limited which operates hotels in Thailand, Malaysia and the United Kingdom. Ivy Bush Royal Hotel will be part of the company’s portfolio of 16 hotels in the UK and operating as its second hotel in Wales, alongside the Citrus Hotel in Cardiff.
“While the Ivy Bush Royal Hotel is already performing very well, particularly in the F&B sector, we feel there is upside opportunity to further grow the business through synergies with the other hotels in our portfolio as well as a strategic refurbishment programme.”
Corrina Jones, Business Agent based in Christie & Co’s Cardiff office, who handled the sale comments, “We are pleased to have been able to assist Mr & Mrs Jaycock in securing a successful completion and would like to wish them all the best for their well earned retirement from the trade. The business is perfectly located for Compass Hospitality Holdings (UK) Limited to add to their existing portfolio of properties and increasing their profile within Wales, which represents an exciting time for all staff and customers of the Ivy Bush Royal Hotel.
“We are seeing increased activity within the region since January 2018 and this is reflected in increased viewing numbers, offers presented and completions, proving a thriving market in South Wales.”
Sheraz Akram, Head of Corporate and Commercial at DJM Solicitors assisted the vendors in the sale of Ivy Bush Royal Hotel.
Ivy Bush Royal Hotel was sold off a guide price of £2,700,000.