North Wales hotel changes hands

The Manchester office of Colliers International has secured the sale of the Chainbridge Hotel, Llangollen for the guide price of £500,000.

The 36-bed hotel was previously owned by hotelier Stephanie Booth before it went into administration in July 2011. The hotel was acquired by Seamus O'Keeffe.

The Chainbridge is on a 3.1 acre plot near the historic Llangollen chain bridge, also previously owned by Stephanie Booth. The 19th century bridge was built by a local entrepreneur trying to avoid toll fees on another bridge in Llangollen. The bridge has been closed for the past 30 years due to safety concerns but local authorities are planning to restore it to improve the tourism offering and help boost the local economy.

Neil Thomson, associate director hotels at Colliers International, said: "The hotel received high levels of interest from both hotel operators and developers. After an intense marketing campaign and a competitive bidding process, the hotel was finally sold to business man Seamus O'Keeffe from Surrey. He plans to invest and develop the business over the coming months and transform this lovely riverside site into a top destination hotel and restaurant."