An historic Gloucestershire pub has gone up for sale after its owners decided to retire.
The Gloucester Old Spot pub near Cheltenham was acquired by Simon and Kate Daws in 2010. The couple are now planning their retirement after a career spanning more than 40 years in hospitality and almost 25 in the pub trade.
According to the pub’s website, offers of more than £1.5m are being considered, with the business having turned over more than £1.25m in its last full trading year.
The Daws bought the leasehold of their first pub - The Royal Oak Inn in Prestbury - in 2000, before taking on The Gloucester Old Spot, later acquiring the freehold of both venues in 2012.
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In 2017 the pair sold The Royal Oak to West Country beer and hospitality brand Butcombe, and they are now looking for new owners to take on the Old Spot, which is thought to have been trading since 1856.
Ms Daws said the publicans were looking for new owners who could “take great care” of the establishment and its staff, adding, “We suspect that the pub will be attractive to investors, given the turnover which we has increased 15 times in our tenure and the industry-leading return on investment that it offers”.
Mr Daws said the Old Spot was one of only 20 pubs in the country to have been awarded a star in The Good Pub Guide, with he and Ms Daws having invested “hundreds of thousands of pounds” to refurbish the premises and expand its garden area.
Mr Daws said: “With a pub as historic as The Gloucester Old Spot, in many respects, any owner is only a custodian for a period of time. We have a fantastic team and an amazingly loyal customer base at The Gloucester Old Spot.
“We are immensely proud of what this team has achieved, having turned what was essentially a drinking pub into a seven days a week food and drink destination with an excellent reputation.”
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