One of Gloucester’s oldest pubs is under offer

The 15th century New Inn on Gloucester’s Northgate Street is up for sale, with an asking price of around £1.65 million.

The New Inn on Northgate Street in Gloucester could soon have a new owner, as the historic pub is currently under offer.

The Grade II listed pub and hotel – which was built around 1460 and is rumoured to be haunted – is being marketed by Savills as the sole agent, inviting offers in the region of £1,650,000.

The four-storey building is situated in the City Centre Conservation Area and boasts plenty of period features like exposed beams and original sash windows, as well as a courtyard garden; 36 letting rooms made up of three singles, 19 doubles and 14 twins; conference room facilities; and a nightclub which is currently vacant.

Savills’ informal planning enquiries state that the premises is permitted as a hotel under use Class C1, although the nightclub element has the potential to be converted or developed, subject to planning permission.

The property is being sold as a going concern, with Savills reporting that the hotel turned over around £820,000 net of VAT in 2019 – with accommodation making up 40 per cent of the turnover, food making up 25 per cent and beverages the remaining 35 per cent.

The historic building made headlines when it was damaged by a fire in May 2018, with Gloucestershire Fire and Rescue service reporting that around 20 per cent of the roof had been destroyed. It remained closed for around three months for repairs before reopening in August 2018.

According to Savills website, the property is currently under offer, but its listing on Rightmove is still live.

Anyone interested in viewing the New Inn is encouraged to contact Savills on (023) 8071 3957 or (023) 8071 3943.

By Chloe Gorman

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© SoGlos
Thursday 15 July 2021

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