One of Derby’s oldest buildings and last surviving coaching inns, the Old Bell Hotel, is being brought to market with a guide price of £1.5m.
Set within Derby’s historic Cathedral Quarter, the Grade II listed inn dates back to 1650 and was once considered one of the most prestigious coaching inns outside of London.
The current owner, local businessman Paul Hurst acquired the hotel in 2012 and began a three-year restoration project worth over £1m, which saw the hotel transformed into a destination venue for shows, corporate events and weddings.
The site features five bars and several function rooms, including its Grand Regency Ballroom, as well as a 60-cover restaurant. The former hotel rooms are currently used as storage and office space, presenting a development opportunity for an incoming owner to reintroduce an accommodation offering.
Hurst said: “After a decade of hard work, it is time to hand the baton over to someone else who can take the business to the next level. That is why we engaged Christie and Co, who I know will find the right owner to look after the building and fully appreciate its heritage and importance to our city.
“One of our greatest assets here is our fabulous team,” he continued, “who share the same passion and drive for the building and our customers, to ensure they have the very best experience, whether popping in for a pint, relaxing with a coffee, enjoying a show or getting married!”
He added: “It has been an absolute honour and privilege to be the custodian of The Old Bell, working with such an incredible team. I really am dreading my last day as I am sure it is going to be very emotional.
“Following the sale, I will be proud to join a long list of people who have made their mark on this incredible building over its 372 year history but our many loyal customers should be reassured that it will continue to be business as usual throughout the transition to new ownership.”
Gavin Webb, senior business agent at Christie and Co, who are handling the sale, said: “The Old Bell Hotel is a property of historic significance in Derby and opportunities of this nature rarely come to the market. New owners will have the opportunity to further develop the business by creating up to 12 letting bedrooms in the upper floors of the premises.”