Cumbrian town centre hotel up for sale at £795,000
Last updated at 12:25, Friday, 25 April 2014
Workington's Waverley Hotel has gone on sale for nearly £800,000.
The owners, Del and Lynn Pears, have decided to retire after 27 years.
The couple said they wanted to ensure that the new owners continued to run the business as a hotel and have put the Gordon Street property on the market with estate agents Christie and Co for £795,000.
They assured staff that their jobs are secure, and Mrs Pears said she would help the new owners run the four-storey premises during the transitional period.
The pair took over the business in 1987 and initially planned to run it for five years and then sell it on.
Mr Pears said that when they took it over it had only 14 bedrooms and a function room to seat 30 people.
They embarked on a thorough refurbishment, which included creating 27 ensuite bedrooms and a 140-seat function room, and extended the building by buying two properties next door.
The hotel now regularly holds conferences, wedding functions and other events.
Mr Pears, 55, said: “The hotel when we took it on was only small and in a poor condition. Our plan was to build it up for five years and sell it, but we enjoyed it so much and stayed on.”
They started with five staff and now employ more than 20 people.
Mrs Pears, 53, said: “It will be a big wrench to leave. It’s like our third child.
“We have built it up and nurtured it, but we look forward to our retirement. It will be a good business for someone to take over.”
Mr Pears added: “We would not be the hotel we are today without the support of our customers.”
Mr Pears was formerly a milkman in Cockermouth, but moved into the hotel trade after he noticed a shift in customers buying from supermarkets,
The couple, who live in Main Road, Seaton, plan to spend more time with their three grandchildren, and Mr Pears said he might invest in some properties.
First published at 12:24, Friday, 25 April 2014
Published by http://www.newsandstar.co.uk
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