Prominent Shrewsbury town centre hotel up for sale
A prominent Shrewsbury town centre hotel, bar and restaurant is being put up for sale with an asking price of £985,000.
A prominent Shrewsbury town centre hotel, bar and restaurant is being put up for sale with an asking price of £985,000.
Morgans, The Exchange Hotel in Bellstone is a substantial three storey property with six en suite bedrooms, a 50 cover restaurant, 25 cover bar area with sofas, a first floor function room for 26 and a canopied outside seating area for 26 covers, which is granted under permit from the local authority.
The hotel is known for its great food, continental drinks, local ales and comfortable bedrooms and its high level of customer service in a relaxed atmosphere.
Halls’ commercial manager James Evans said: “The business, which has been run by Quintin Morgan with great investment and care for the last seven years, is now offered for sale, which presents a fantastic opportunity for potential new owners."
Mr Morgan purchased The Exchange in March, 2008 and, following an extensive refurbishment, the bar and restaurant reopened on October 31. The hotel opened on March 1, 2009 and a further refurbishment followed during January, 2014. The business employs 15 full and part-time staff.
He said: “Having owned the business for seven years, I feel this is a good time to market the property.
“The building is fantastic, in perfect condition and situated in a prime location, with a high turnover, loyal staff team and lovely client base.
“With the university coming to Shrewsbury, along with a rapidly expanding population, this is a great opportunity for the business to continue to grow and prosper under new owners."
