Dragon Hotel, Montgomery, Wales - FOR SALE

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Property Id : 36824
Rooms: 20

With its commanding presence at the high point of Montgomery’s marketplace and stunning black and white facade, the Dragon Hotel is an eye-catching building being offered for sale by Colliers UK.

Inside the public rooms are full of character and the 20 letting bedrooms are of very good quality. 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.

As well as having a reliable year round and good class bar and restaurant trade, The Dragon is able to capitalise upon functions in the newly renovated town hall building adjacent to it.

Montgomery is a very pretty town and an attractive and eclectic mix of styles and ages of property. The ancient castle attracts a good many visitors to the town, particularly walkers and cyclists.

Shropshire is easily reached and both Welshpool and Newtown are business centres that generate good numbers of bed nights throughout the year.

Not only a great place to run a hotel, Montgomery is also a fabulous town to enjoy living in – it was listed in the 2019 Sunday Time stop 10 places to live in Wales. There is a well regarded local primary school and good secondary schools nearby with school transport. It has a great sense of local community. Accessibility is excellent as it is only 21 miles from the edge of Shewsbury and the motorway network making both Birmingham and Liverpool within 90 minutes drive.

The current owners have owned The Dragon since 2013. Since their purchase they estimate that they have spent around £460,000 on improvements and upgrading, including turning the rarely used function room into the bar, installing a new woodchip boiler (contributing c£14k in income), refurbishing all bedrooms and bathrooms as well as refurbishing the pool. The business has responded strongly and over their time net revenue has doubled. Having achieved their primary aims for the business and with other business interests clamouring for attention they have decided that now is the best time for them to handover The Dragon to new owners.

A Grade II Listed Building, the Dragon Hotel has a black and white timbered front elevation and mainly brick extensions to the rear. Roofs are predominantly pitched and slate covered.

Key Features:

*20 well-presented letting bedrooms
*Indoor pool, and 2 bedroom cottage for owners or managers
*Large bar and 40 cover restaurant
*Revenue of £905k net of vat in calendar year ended 2019

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Peter Brunt