An historic Grade-II hotel in the heart of the picturesque town of Montgomery is for sale with a price tag of more than £1 million.
The 17th Century former coaching inn, which combines a traditional timber beamed exterior with a stylishly-refurbished interior, is on the market through global real estate advisor Colliers International for £1,095,000 freehold.
Vendor Mark Cadwallader said: “Montgomery is a very attractive little town with a great community feel and a lovely place to live and run a business. It offers the best of both worlds, surrounded by the beautiful mid Wales countryside, ideal for walks and a more relaxed way of life, whilst only being 30 minutes away from Shrewsbury and the motorway network.”
Prominently located at the high point of the market place, The Dragon Hotel features 20 letting bedrooms, a large bar and 40-cover bistro restaurant, an indoor pool, and a two bedroom cottage for owners or managers.
Peter Brunt, director in the Hotels Agency team at Colliers International, said that both The Dragon and the Marches town of Montgomery appealed to a diverse range of visitors, and this broad business base was likely to prove attractive to potential purchasers.
“This is a hotel which draws a range of business to it, from tourism to a regular commercial trade, and which has seen revenue double over the last seven years,” he said.
“As well as having a reliable and good class bar and restaurant trade, The Dragon is able to feed off functions in the newly renovated town hall building next to it.”
Mr Cadwallader and his fellow directors purchased The Dragon in 2013, and have carried out an extensive refurbishment programme which resulted in net revenue doubling. They are now selling the hotel in order to focus upon other business interests.
Peter Brunt said: “Having achieved their primary aims for the business and with other business interests clamouring for their attention, they have decided that now is the best time for them to hand over The Dragon to new owners.
“At a time when there is a greater focus upon UK ‘staycation’ holidays and short breaks, The Dragon represents an excellent opportunity in a beautiful location with easy access to the whole of the Marches region as well as Shropshire. Offa’s Dyke trail runs just east of the town, Powis Castle in nearby Welshpool is a big draw to the area, and both Welshpool and Newtown are business centres that generate good numbers of bed nights throughout the year.”
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