NEW INVESTMENT is set to be put into Horncastle’s Admiral Rodney Hotel, which has been bought by the Bulldog Hotel Group for an undisclosed sum.
Lincoln-based solicitors Langleys carried out the legal work on behalf of Bulldog, which adds the Grade II listed coaching inn to its current portfolio.
The group owns the White Hart Hotel, Boston, the White Hart Royal Hotel, Moreton in the Marsh, the Old Bridge Hotel in Holmfirth and the Talbot Hotel at Oundle.
Bulldog managing director Kevin Charity said: “The purchase of the Admiral Rodney demonstrates further investment by the company in quality coaching inns in market towns.
“Although the general pub industry is still unsettled, coaching inns remain a focal point of market towns and can still represent good investment.”
The 31-bedroom three-star hotel was sold through Peter Bean at Colliers International and legal advice was provided by Dick Jennings of R.D.Y. Jennings & Co, Solicitors.
Financial and tax advisor to the vendors was chartered accountant Jon Morley of R.M. Locking & Co, Scarborough.
Langleys’ Andy Kay and Helen Bell oversaw the deal on behalf of Bulldog Hotel Group.
Helen said: “This is a fantastic investment by Bulldog which shows the company is keen to keep alive the more traditional hotels in the region.
“Although the deals market is still patchy due to lack of bank funding, we’re seeing an increase in this kind of activity and it’s great to see some confidence returning to the market by way of private investment.”