Michelmores advises St Austell Brewery on acquisition of two new hotels
Michelmores' Corporate team has advised St Austell Brewery on the acquisition of two hotels in Devon. The deal is part of St Austell's ongoing strategy to expand and develop its pubs, inns and hotels business.
St Austell Brewery, which is independent and family-owned, has acquired Dartmouth’s Royal Castle Hotel and The Royal Seven Stars, in Totnes. The hotels will be managed as part of the company's 182-property estate.
The Michelmores team advising St Austell Brewery was led by Richard Cobb, Head of Michelmores' Corporate team, with support from Holly Lawrence, Jonny Lane, Sarah Phillips, Rachael Lloyd and Ben Thomson.
Steve Worrall, managing director of St Austell Brewery’s pubs inn and hotels business said:
“This is an exciting period for the company and we are delighted to add the Royal Castle and The Royal Seven Stars to the business. Both award-winning hotels enjoy waterfront positions and views over the River Dart. Together, the properties will provide us with an additional 45 guest bedrooms, two award-winning restaurants in two fantastic Westcountry locations".
Richard Cobb commented:
"St Austell is a long-standing client of Michelmores and we are delighted to have supported them on this deal. The business continues to grow its offering of high quality establishments across the South West, which are a real asset to the region's leisure and tourism offering."
St Austell Brewery, owns 182 pubs, inns and hotels – including tenancies and leased properties across the West Country. In 2019, the company acquired six new pubs, five new tenancies and one new managed house.