The Radnorshire Arms hotel in Presteigne, Powys, has been sold out of administration to Allworks Properties.
The 19-bedroom, Grade II*-listed property, which has been empty for over a year, was one of two that fell into administration in 2018 under the umbrella of Leisure & Developments. The company also owned the 16-bedroom Knighton hotel, also in Powys, which was sold in September 2019.
Paul and Rowena Williams, whose Plas Glynllifon and Seiont Manor hotels in Caernarfon have both been brought to market after falling into receivership, previously owned the two hotels.
John Rivers, director of Allworks Properties, which owns several other hotels and pubs, said: "We are delighted to have completed on the sale of the Radnorshire Arms, and are very much looking forward to renovating and reopening this historic hotel in the heart of Presteigne, and offering hospitality to both visitors and the local community."
The sale was negotiated by Colliers, acting on the instructions of Damian Webb and Diana Frangou of RSM Restructuring Advisory, as joint administrators of Leisure & Development.
Peter Brunt, director of hotels agency at Colliers International, said: "The Radnorshire Arms is a hotel with huge potential, and its sale to an experienced hospitality operator shows that the hotels market is active despite the coronavirus pandemic.
"There were two offers at the agreed price level pre-virus, and the selected bidder was happy to proceed as agreed with the sale exchanging and completing at a time when the country has been under lockdown."