The owner of the Prego chain of restaurants in the Midlands is switching around his assets with the sale of the Roman Rooms Hotel in Wolverton and the acquisition of The Magpies Hotel in Woburn.
Simon Chapman, who currently owns the Prego restaurants chain in Newport Pagnell, Market Harborough and Buckingham secured the 11-bedroom Magpies Hotel, restaurant and bar for an undisclosed sum, after the leasehold interest was offered for sale at an asking price of £150k.
Formerly a 17th Century coaching inn, and situated in the heart of the Hertfordshire village of Woburn, The Magpies Hotel contains a 26-cover restaurant and a beer garden that can cater for up to 40 guests. Chapman is currently in the throes of refurbishing the site, which estate agents Christie & Co say has “shown growth over the past few years.”
The acquisition comes before the sale of the 10-bedroom communal-style Roman Rooms Hotel in Wolverton has been finalised, although a spokesperson for Christie & Co told BigH that an offer has been made and a deal has been underway for ‘quite some time.’