East Anglia: Former owners of Southwold Pier acquire historic coaching inn in Norfolk
- Credit: Archant
The former owners of Southwold Pier are embarking on a new venture after acquiring an 18th Century coaching inn in Norfolk.
Stephen and Antonia Bournes, who agreed the sale of the popular Southwold attraction to Gough Hotels in February, have now bought the Globe Inn at Wells-next-the-Sea from the Holkham Estate.
The inn, which has a restaurant and seven bedrooms, and planning permission for the conversion of outbuildings to crate 10 more bedrooms, was previously managed on behalf of the Holkham estate by Southwold-based brewer Adnams.
Mr Bournes, whose background is in hotels, said: “We are both very excited about taking on The Globe. Holkham and Adnams have done a great job and we will be looking to continue this work.”
David Horton-Fawkes, estates director at Holkham, said: “We decided to sell this property so we could concentrate on The Victoria at the centre of the estate, which has just re-opened after a major refurbishment.
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“We are very pleased that Stephen and Antonia Bournes will be taking on The Globe and we wish them every success in the future.”
The Globe was sold freehold, for an undisclosed sum, through the Ipswich office of specialist leisure sector agent Christie & Co.
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John Grace, associate director at the Ipswich office, said: “Not only is The Globe Inn a renowned ‘locals’ bar and restaurant, it is also a destination inn for tourists to the beautiful North Norfolk coast.
“It is a highly profitable business, having benefited from a substantial refurbishment by the Holkham Estate over recent years. We wish Stephen Bournes well with his latest venture, but know he will bring his restaurant and leisure experience to bear in the continuing success of The Globe Inn.”
He added: “In what remains a slightly uncertain economic marketplace, successful businesses in idyllic locations are always going to stand out for those seeking to invest in the hotel, pub, restaurant and leisure sectors. The Globe Inn certainly ticks all the boxes.”
Gough Hotels, which owns the Angel Hotel in the centre of Bury St Edmunds and the Salthouse Habour Hotel on the Waterfront in Ipswich, plans to progress plans initially drawn up for Mr and Mrs Bournes to replace the current pavilion at the land end of Southwold Pier with an Art Deco-style hotel.