The new owner of Thrapston's Bridge Hotel is looking forward to revamping it and making it 'great again.'
The Bridge Hotel is a hotel, restaurant and wedding venue in Bridge Street, Thrapston, with 17 en-suite rooms and various conferencing and function suites.
Christie & Co handled the sale on behalf of vendor Mandy Chagger and it was snapped up by Viren Patel, a business owner and property investor who started his career operating a local supermarket and most recently established his own business selling seasonal gifts to corporate clients.
Viren said: "This is my first foray into the hotel sector, but I have always dreamt of owning and operating my own hotel.
"I was initially attracted to the Bridge Hotel because of the potential for someone to add value.
"My intention is to create a new image for the hotel by comprehensively refurbishing the rooms and trading areas, whilst improving the existing business.
"It is evident that the property has lacked care and attention over the past few years, and therefore my aim is to make this hotel great again for the benefit of the local and wider community.
“I would like to extend my gratitude to both Ed Brown from Christie Finance for helping me to make key decisions and secure the funding and Josh Sullivan at Christie & Co for his assistance to enable me to realise this dream.
"I look forward to taking the Bridge Hotel to the next stage in its life cycle."
Joshua Sullivan, senior business agent at Christie & Co who handled the sale, said: "The hotel provided a value-add opportunity for an first time entrant, or experienced operator, to purchase a well-positioned hotel close to amenities and key transport links at an attractive price offering.
"The marketing process generated significant interest from local, regional and national contacts, with the hotel eventually being sold to a first-time entrant funded through Christie Finance."
Ed Brown, finance consultant at Christie Finance, said: “Supporting Viren with the purchase of Bridge Hotel has been a pleasure.
"A seasoned businessman with an eye for detail and a wealth of property investment experience will I’m sure bring fresh impetus to the Bridge Hotel.
"I know that Viren’s plans to gradually upgrade rooms and facilities whilst retaining the warmth and high level of service provided by the current team will be well received by guests and locals alike.”