Ashley Clark, a director at Colliers International, said: “There was competition in the market for it, which meant it was sold in excess of the asking price. It was very encouraging.” He would not disclose the final sale price for confidentiality reasons.
The hotel, located a short distance from Bedford’s town centre, has 23 bedrooms and a public restaurant and bar in addition to a function room with capacity for 200 people.
Clark said the company had been confident that the hotel would attract interest from the market. “My instinct was justified as we received multiple offers throughout the marketing process. The eventual purchaser already has business links to the town and is delighted with his acquisition.
“Due to the hotel’s prominent location it could easily have sold to a purchaser seeking an alternative use, but I am delighted that it will remain a hotel and service the needs of the local community and the business traveller for many years to come.”
The name of the buyer was not disclosed.