Prezzo's Hertfordshire hotel goes up for sale

By Emma Eversham

- Last updated on GMT

Related tags: Inn

Prezzo is looking to sell the George Hotel where it will open a restaurant later this year
Prezzo is looking to sell the George Hotel where it will open a restaurant later this year
The Hertfordshire hotel bought by Prezzo last month has been put up for sale with the Italian restaurant operator retaining the building's ground floor for the site of a new restaurant

The George Hotel, the Hertfordshire hotel bought by Prezzo last month, has been put up for sale with the Italian restaurant operator retaining the building's ground floor for the site of a new restaurant.

The 22-bedroom hotel in Bishop's Stortford, has gone on the market for £400,000 and is available on a 999 year lease with a peppercorn rent.

Stewart Harkness, associate director at property agents Christie & Co, said the hotel provided 'a unique opportunity' for someone to own a centrally-located business with a new restaurant underneath.

When Prezzo, which operates more than 140 restaurants across the UK, acquired the George Hotel last month from Punch Taverns, it said it was undecided about whether to keep it or sell it on.

In a trading statement released on 15 January, Prezzo said it was expecting economic conditions to remain challenging throughout 2010 but was still planning to open a further 10 restaurants this year.

The company has also confirmed details of a second site in Hertfordshire. The former La Vina restaurant in Tring was bought last month and will be refurbished and re-branded before being opened as a Prezzo later this year.

Related topics: Venues

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