£985,000 asking price for Shrewsbury hotel
A hotel, bar and restaurant in Shrewsbury town centre has been put up for sale – with a near £1 million price tag.
Morgans at the Exchange Hotel has been put on the market by owner Quintin Morgan, who took over the venue in Bellstone seven years ago. It is being sold by estates agents Halls for £985,000.
Mr Morgan said he believed the business would continue to prosper under new ownership once Shrewsbury's new university is fully open.
He added: "I feel this is a good time to market the property. The building is fantastic, in perfect condition and situated in a prime location, with a high turnover, loyal staff and lovely client base.
"With the university coming to Shrewsbury, along with a rapidly expanding population, this is a great opportunity for the business to continue to grow and prosper under new owners."
Mr Morgan bought The Exchange in March 2008 and following a refurbishment, the bar and restaurant reopened on October 31. The hotel opened on March 1 the following year and a further refurbishment followed during January 2014.
The venue currently employs 15 full and part-time staff.
James Evans, commercial manager at Halls, said the sale was "a fantastic opportunity for potential new owners".
He said: "The hotel is known for its great food, continental drinks, local ales and comfortable bedrooms, together with excellent staff who provide a high level of customer service in a relaxed atmosphere."
