Specialist business property adviser, Christie & Co has completed on the sale of the historic Cobdens Hotel in Capel Curig, North Wales to a first time hospitality buyer.
The hotel has been a focal point for climbers and walkers for many years and is well known for its sporting and climbing history. Sold with vacant possession, the main property includes 21 letting bedrooms, a 100 cover restaurant and dining room, plus a distinctive ‘Mountain Bar’ which is built around the original rock face with a fresh water stream running through it. Additionally, there is a seven bedroom, detached house that could be utilised by the incoming operator or redeveloped into staff accommodation or supplementary letting bedrooms.
Furthermore, Cobdens Hotel has onsite parking provision for up to 25 vehicles. This is significant given the hotels proximity to popular attractions, including Adventure Parc Snowdonia, Zip World Bounce Below and the picturesque village of Betws-y-Coed, which attract year round visitors.
The property was previously owned by Wendy Crisp & Melfyn Thomas, who purchased the Cobdens Hotel through Christie & Co in 2016. They sought a sale in order to retire and Melfyn comments, “The property is in the perfect location for exploring Snowdonia, on foot or by car, and the possibilities for its development are unrivalled within the area. I wish Jill and her family all the best with their dream and hope that they make a great success of restoring this much loved feature of Capel Curig. Many thanks to Christie & Co for all the help and support that they gave in facilitating the sale. Pob Lwc!”
New owner, Jill Stubbington is a first time hospitality buyer, who was attracted to the hotel by its location, personality and development potential. Jill plans to refurbish and modernise the property, restoring it to its former glory in order to capitalise upon the high levels of tourism in the area, and comments, “I aim to bring Gwesty Cobdens sympathetically into the 21st Century to enable guests to enjoy its location and facilities for many years to come. I would like to thank the vendors and Christie & Co for the opportunity to be a part of Cobdens’ history.”
Tom O’Malley, Senior Business Agent at Christie & Co handled the sale and comments, “Given its stunning location in the heart of Snowdonia, it’s unsurprising that Cobdens Hotel received unprecedented interest from the market. During the process, we received more than 100 expressions of interest, generating 72 viewings and 10 subsequent offers. This goes to show the level of demand that exists for hospitality businesses in prime locations across North Wales.”
Cobdens Hotel was sold off an asking price of £395,000 for the freehold interest.