The Morgan hotel in London's Bloomsbury - operated by the same family for 38 years - has sold off an asking price of £1.75m.
Property company Christie & Co handled the sale of the business, which includes 14-bedooms over three floors, along with a second annexed building housing four self-contained apartments with three en suite letting bedrooms.
The Morgan hotel has been owned and operated by the Ward family since 1978. A spokesperson from Christie & Co was unable to confirm the name of the new owner but described the buyer as "an existing operator".
Andrew Evangelou, director of hotels at Christie & Co handled the deal on behalf of the vendors. He said: "The Ward family have loved and cared for the Morgan hotel since the late 1970s, and after 38 years have decided to hang up their operator hats and enjoy a well-earned retirement. "We're delighted to have helped them pass the reins onto a keen, experienced operator who is looking to continue and expand on the success that the Wards have enjoyed over their years of tenure."
According to documents filed at Companies House in February, Joseph Goldberg has been appointed as a new director of Ward Hotels - the company the hotel is registered under. Other documents showed the termination of John Ward, David Sidney Ward and Joy Downes as directors.
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