A LLANGOLLEN hotel once owned by hotelier Stephanie Booth has been sold for £500,000.
Businessman Seamus O’Keeffe, from Surrey, has snapped up The Chainbridge Hotel and plans to transform it into a major tourist destination.
Previously owned by Mrs Booth and her Llangollen Hotel Group, The Chainbridge went into administration in July, 2011 on the collapse of her hotel empire.
It was put up for sale by Colliers International which has now secured the £500,000 sale.
The 36 en-suite bedroom hotel boasts views over the River Dee and is close to Llangollen town centre.
It was named for its close proximity to the historic Llangollen chain bridge which was built in the early 1800s by a local entrepreneur trying to avoid toll fees on another bridge in Llangollen.
The bridge has been closed for the past 30 years due to safety concerns but the local authorities are planning to restore it to improve tourism and helping to boost the local economy.
Neil Thomson, of Colliers International said: “The hotel was formerly a part of the Llangollen Hotel Group owned by Stephanie Booth which went into administration last year.
“The hotel received high levels of interest from hotel operators and developers.
“After an intense marketing campaign and a competitive bidding process, the hotel was finally sold to business man Seamus O’Keeffe from Surrey.
“He plans to invest and develop the business over the coming months and transform this lovely riverside site into a top destination hotel and restaurant.”
Llangollen’s Mayor, Cllr Jon Haddy, said: “It’s obviously in everyone's interests the hotel is a vibrant and functional place.”
He said work on the chain bridge bridge could start next summer after the Heritage Lottery Fund (HLF) presented almost £30,000 to Llangollen Town Council and Llantysilio Community Council for the first phase of the makeover.
The £28,000 grant from HLF will enable the councils to carry out detailed development work ahead of a full proposal for the second round of the HLF application process later this year.