Hotelier and publican in property swap
In a rare double deal, the owners of a pub and a hotel in Witney, Oxfordshire, have swapped properties.
Events were set in motion when Emma Wadsley, co-owner of the Elm Tree pub, expressed an interest in buying the 10-bedroom Witney Hotel, which was on the market. A few weeks later, the hotel's owners, Rachel and Nielson McDermott, decided to view the pub.
Commenting on the decision to buy the hotel, Wadsley said: "My sister, parents and I had run the Elm Tree for 30 years and wanted a change of life. We knew Nielson because he used to come into the pub, so we knew his B&B was for sale."
The McDermotts, who had run the hotel for 15 years, said: "We enjoyed our time and many challenges over the period, but felt it was time for us to move on and take up a new challenge."
The Bristol office of property agent Fleurets acted on the double deal. The Witney hotel sold off an asking price of £975,000. The pub sold for an undisclosed price below that.
Chris Irving at Fleurets said: "Both parties were looking for a change of environment and the timing of the availability of both units turned out to be ideal, allowing the unusual swap deal to take place."
