Italian-style restaurant operator Prezzo has bought the freehold of The George Hotel in Bishop’s Stortford – the third oldest inn in Hertfordshire – from Punch.
Prezzo, which runs more than 140 restaurants across the country, will occupy the ground floor and basement.
The chain is now exploring options for the building, including conversion, tenancy or selling off the upper parts.
The property, which is also the oldest
Brandon Elmon, director of agency and acquisitions at Davis Coffer Lyons, which advises Prezzo, said: “We have been approached by several residential developers and hoteliers interested in the upper hotel parts and I am currently reviewing the best way forward for the property.
“Acquiring this type of property is a new source of opportunity for Prezzo and is something that we will be actively seeking countrywide for them in 2010.”
Fleurets advised Punch.
annabel.dixon@estatesgazette.com
