AN East Yorkshire family has acquired an historic hotel in Shropshire in a deal supported and funded entirely by professionals in York.
Businesswoman Sue Moss, a former business banker with Barclays in Beverley, and her two sons, James and Matthew, have jointly acquired the 18th century, Grade II listed Salwey Arms, Wooferton, near Ludlow.
The family, originally from Driffield, were advised by a corporate finance team at accountants and business advisers, JWP Creers, led by partner, Tony Farmer, with legal advice from Lupton Fawcett Denison Till, while the acquisition was funded by a team lead by relationship manager, Lorraine Hardiment, at Lloyds Bank, York.
Mr Farmer said: "With the economic recovery of the last 18 months gathering pace and disposable income returning to pre-recession crisis levels, this is a very good time to invest in a popular hotel. With the family’s combined business and hospitality experience, we believe they will do very well."
Martin Frost, who led a cross-departmental team from Lupton Fawcett Denison Till’s York office, including commercial property director Jonathan Moore, added: "The Salwey has huge potential and I am sure that, with the combined experiences the family have gained from running their previous businesses, they will do very well at this wonderful historic inn."
Relationship manager at Lloyds Bank Commercial Banking, Lorraine Hardiment, said: "Sue, Matthew and James had a clear business plan which demonstrated how they intended to achieve growth and run the business in order to offer the highest quality service to their guests"
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