Whitbread's Ashley Hotel sold to Greene King

13th July 2010, 7:00am

Acting jointly on behalf of Whitbread, Christie + Co and Gerald Eve have sold the freehold of the Ashley Hotel in Worksop, Nottinghamshire, to Greene King, the brewer and pub operator, for an undisclosed sum.

Located one mile from Worksop town centre, the Ashley Hotel is a substantial detached property comprising a 32-cover public bar, a circa 140-cover dining room, and two good sized manager's flats.

The site, which traded as a Brewers Fayre, also includes extensive car parking and a separate detached, single-storey building to the rear.

Greene King has since refurbished the property and reopened it under its Hungry Horse brand.

The Ashley Hotel is the third pub restaurant Christie + Co and Gerald Eve have sold for Whitbread since the last quarter of 2009. The Nevill Crest & Gun in Kent was acquired by Brunning & Price, whilst the Greaves Park in Lancashire was purchased by the Chameleon Pub Company.

Simon Hobbs, head of asset management at Whitbread, said: "This sale reflects Whitbread's long-term strategy to operate pub restaurants with a Premier Inn alongside where we can capture the benefits of both brands. The Ashley Hotel did not support our criteria for Premier Inn and as a consequence we decided to dispose of the asset."

Noel Moffitt, director at Christie + Co, said: "Well-located, substantial managed houses, such as the Ashley Hotel, continue to attractive significant levels of interest from national and regional operators. We are delighted to have been able to aid Whitbread with this disposal in what continues to be a challenging market. "

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• 12 Aug 2011 - Whitbread hotel and restaurant group to sell and lease back seven Premier Inn properties
• 28 Apr 2011 - Whitbread achieves strong revenue growth with sales up 6.6%
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• 28 Jan 2011 - Whitbread welcomes new non executive director to the board
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