Trust Inns has acquired The Holly Hill Inn, a traditional English coaching inn located in Richmond, North Yorkshire. The site was sold via Christie & Co for in excess of an asking price of £625k.
Situated on the edge of the Yorkshire Dales National Park, and within easy reach of the centre of Richmond, an affluent market town renowned for its cobbled market space and historic castle, The Holly Hill Inn is a popular retreat for locals and visitors alike. The inn is also positioned along the coast to coast walk from St Bees in Cumbria to Robin Hoods Bay on the East Coast which draws many visitors.
Superb British and continental fayre along with a variety of local ales and lagers are served in the comfortably laid out pub and restaurant space, which has retained much of its traditional features, including open fires and exposed wooden ceiling beams.
The popular beer garden to the rear offers stunning views of Richmond Castle, one of the areas finest tourist attractions.
The pub has four deluxe en-suite bedrooms are situated in a separate building to the rear of the property with beautiful views overlooking the castle. In addition, the property is dog-friendly and welcomes dogs to the bar area and some of the bedrooms, making it a popular choice for visitors looking to explore the local area with their canine friends.
Having owned and operated the successful business for a number of years, the previous owner, Les Calvert made the decision to sell in order to retire from the sector. He said, “David Cash found me a buyer at the start of this year and he worked hard to ensure the deal progressed at the earliest opportunity, despite the challenge of lockdown at around the time contracts were due to exchanged.”
New owner, Trust Inns is one of the UK’s longest standing, privately owned pub companies with a national portfolio of 350 venues across the country. They have retained the business’ manageress and other staff and intend to run the inn in a similar manner, whilst also looking to grow the business.
Lyn Perry, Estates Director for Trust Inns comments, “As a company, Trust Inns have a long standing relationship with Christie & Co and David Cash introduced this site to us earlier this year, as they were aware we were seeking new acquisitions. The site is ideal for us and fits our criteria for new businesses.
'David has been very professional and helpful throughout, managing the process through the problematic COVID period to a successful completion. We are confident in his ability to understand our business aims and we are happy to recommend him to potential sellers or buyers.”
David Cash, Associate Director at Christie & Co handled the sale and comments, “The Holly Hill is a great example of a country pub with multiple income streams which have helped it to bounce back brilliantly since reopening after lockdown.
'We are currently seeing an increased demand from purchasers for hospitality businesses such as this, as many buyers look for an alternative lifestyle, whilst capitalising on the growing popularity for staycations.
'As company we have brokered the sales of more than 100 hospitality businesses nationwide since 1st April and expect to agree many more deals in the coming months.”