Pub firm UCL to invest £1m in Warwick's Globe hotel
Pub operator Urban Country Leisure (UCL) has bought a the freehold to the Globe hotel in Warwick for an undisclosed sum off a guide price of £1.25m.
The 19 en suite-bedroom hotel also features a 70-cover Thai restaurant, 30-cover separate bar area, a function room with the capacity for 40 people and an external 25-cover courtyard area.
The business also includes an adjoining five-bedroom property.
UCL, which is run by former Bar Room Bar boss Ross Sanders, plans to invest around £1m on refurbishing the property.
Gavin Wright, director at Christie & Co, which brokered the deal said: "The Globe was brought to the market as our clients wished to pursue other business interests. This established and popular business attracted significant levels of interest and we are delighted to have secured UCL, an excellent and rapidly-expanding operator, as the new owner."
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By Neil Gerrard
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