Mitchell Charlesworth act on £3.7m acquisition of historic Southport hotel

Date: 13 February 2008

A HUSBAND and wife team have purchased a Southport hotel for £3.7 million in a deal advised by Mitchell Charlesworth.

Eddie and Cheryl Warren bought the 176-year-old Bold Hotel after selling their care home to help fund the acquisition.

The pair have finally fulfilled a long-standing ambition to own and manage their own hotel following the deal. They now plan to develop the business by establishing a programme of entertainment and corporate hospitality functions whilst continuing to maintain the high standards of the renowned hotel.

Richard Johnson, part the Corporate Finance Team of Mitchell Charlesworth, acted for Eddie and Cheryl throughout, assisting with the structure of the deal, providing due diligence, preparing financial projections and giving general guidance and tax advice.

He said: “This was a very good deal for Eddie and Cheryl, who impressed us with their knowledge of the local market and also with their long-term plans for the Bold Hotel. With more than 20 years business experience between them I am sure they will use their joint expertise to enhance the hotel and make a real success of their first venture into hotel ownership.”

The hotel was designed by Thomas Mawdsley in 1832 as part of the Victorian thoroughfare that ran through the heart of Southport and was one of the town’s first hotels.

In 1944, the Bold Hotel was used as a headquarters by the US Army as part of the Allied invasion of Europe, and after the war it was re-established as one of Southport’s premier hotels.

Today the hotel has 23 en-suite bedrooms, conference facilities for up to 250 people and the popular Bistro 585 restaurant.

Eddie Warren, owner of the Bold Hotel, added: “The Bold is one of Southport’s best known hotels and we are delighted to have completed this deal. The building itself is in great condition for its age and we plan to make some small changes to improve the hotel’s overall presentation.”

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