Hospitality specialists from Colliers International have sold the Aquae Sulis hotel in Bath, to Indian buyers Samir Thukral and Sanjoy Roy of Bath Hospitality Limited.
Hotels Director Simon Wells said the buyers are planning to refurbish the distinctive 14-bedroom Edwardian property, introducing new web-based systems and adding new room amenities.
Aquae Sulis had been on the market for offers over £1.45m freehold.
“The prominent Newbridge Road property is on one of the main routes into the city from the West,” he said.
“The new owners are also planning to introduce a conservatory, lounge/restaurant to increase the food and beverage scope of the business, for an uplifted hotel experience whilst retaining the touch and feel of a traditional English Bed & Breakfast.”
Mr Wells, who previously sold the Ayrlington, Kennard and Griffin, added: “Signing off on another key deal in Bath follows the best part of 18 months of sales successes, but it has left a number of disappointed bidders even more determined to find their foothold in this tourist hotspot.
“It’s all happening in the city at the moment and prospective buyers need to be primed and ready to go after properties the moment they come up.
“Over the last couple of seasons occupancy levels have been rising, reaching 81 per cent in 2015 according to the latest available data. So it is not surprising that demand for hotel and Bed & Breakfast property in Bath is reaching unprecedented levels.”
Mr Wells said he believes Bath is a South West visitor hotspot that will continue to out-perform other, bigger destinations in the region, and that the city’s appeal showed little sign of abating as a result of its Roman baths and Georgian buildings making it an essential destination on any tour of the UK.
“High land prices in London are causing investors to look outside of the capital for opportunities to spend their cash. And the electrification of the mainline from London will bring Bath even closer to the Capital and boosting its appeal as the long weekend destination of choice,” he said.
“It is not just a summer destination – the city is busy all year round with events to attract visitors such the Christmas Market, the Bath Half Marathon, the literary festival and, of course, Bath Rugby.”
Simon continued: “Our clients bought half of the property in 1986 and acquired the other half in 1989.
“They raised their family here but with the arrival of grandchildren it was time to retire which is why this is the first time this highly profitable business has changed in 29 years.”
