Saturday, November 27, 2021

North Yorkshire hotel sold to hospitality and property development company

Specialist business property advisor, Christie & Co, has completed on the sale of Aysgarth Falls Hotel, a pub-restaurant with letting rooms in North Yorkshire, to Barnsley based The Brook Group.

The 11-bedroom coaching inn and restaurant is situated on the main road through Aysgarth in Wensleydale, in the northern end of the Yorkshire Dales National Park.

The famous Aysgarth Falls, which featured in the film, Robin Hood: Prince of Thieves starring Kevin Costner, are located behind the property, making it an excellent base to explore one of the Yorkshire Dales’ main attractions.

The previous owners, Steve and Heather Swann decided to sell to seek semi-retirement, having successfully built the business into a well-respected and popular destination over their past ten years of ownership.

Steve says: “The Yorkshire Dales is such a lovely place to live and work in and we have loved every minute of our time here. Now we have sold we are able to semi retire, albeit we are remaining in the hospitality industry as we have holiday lets close by which we will now be able to focus on.”

The business has been purchased by Yorkshire-based hospitality and property development company, The Brook Group, who currently operate a portfolio of upmarket bars, restaurants and leisure venues across the region.

Jason Brook, CEO, says: “We are very proud to have acquired this prestigious venue in such a fantastic location, in the heart of Wensleydale. We have some exciting plans for the hotel over the coming months and look forward to bringing these to life.”

The Brook Group have recruited a new head chef, Tristan Prudden, who has gained accolades regionally and returns to the Aysgarth Falls Hotel in addition to a new general manager in Daniel Williams.

Mark Worley, director in Christie & Co’s Hospitality team, handled the sale and adds: “We’re delighted to have facilitated the sale of Aysgarth Falls Hotel to Brook Group. This deal is indicative of the demand that we have seen for this type of business throughout the Covid pandemic, which will no doubt continue.

“Buyers are hungrily looking for rural leisure-based opportunities in National Parks or tourist led coastal locations, so we were inundated with enquiries when the property came to the market. The fact that Aysgarth Falls Hotel could boast a year-on-year increase in turnover coupled with a healthy and sustained profit only added to its appeal.”

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