The Coaching Inn Group is undergoing rapid expansion and marked this with the acquisition of the 25-room Golden Lion Hotel in St. Ives.
The Lincolnshire-based group bought the property for a price of £2.5 million, and will add it to the 11 properties already in their portfolio.
Tim Gooding, director from Christie & Co’s Ipswich office brokered the deal and commented, “We are delighted to have sold this business to a growing and successful company who will take great care in developing the operation even further and adding to the exceptional job undertaken by the vendors.
“The sale indicates growing buyer confidence in the pub & hotel sectors and reinforces the improving level of activity we’ve been experiencing over the course of this year. We believe that this trend is set to continue, and expect to see an increase in interest in the pub & hotel markets as 2016 progresses,” he added.