Tearooms on sale for £1 million
Thursday 14th January 2010, 1:07PM GMT.
A historic award-winning Shropshire tearooms has been put up for sale for more than £1 million.
De Grey’s in Broad Street, Ludlow, has won a raft of accolades in recognition of its excellent service and currently operates as a licensed tearoom and restaurant with its own bakery shop, and nine bespoke luxury guest bedrooms.
A black and white oak framed Elizabethan property built in approximately 1570, 5 Broad Street in Ludlow has been the home to De Grey’s Tearooms for over 100 years.
The sale is being handled by Christie + Co and it is on the market with a guide price of £1.25 million.
It will include the freehold interest of 5 Broad Street, the De Grey’s shop, tearoom and restaurant with adjoining ancillary areas along with a 10-year lease on the guest bedrooms.
The 200-cover tearoom is highly regarded, and has won a Tea Guilds Award of Excellence in each of the last six years.
The current owners had a vision to develop the business as a luxury B&B, with each of the rooms having their own personality. De Grey’s Townhouse is now listed in the Michelin Guide 2009 with a “red hotel” listing, with guest bedrooms achieving a 5-star Gold rating from VisitBritain and a 5-star rating from the AA.
Philip Stimpson, director at Christie + Co, said: “This is an amazing opportunity to acquire an established and unique business that is renowned locally, regionally and further afield.”
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