Historic Old Bell hotel on the market for £1.5m

One of Derby's oldest buildings and last surviving coaching inns has been put up for sale for £1.5m.

The Old Bell hotel dates to 1650 and is set within Derby's historic Cathedral Quarter.

Local businessman Paul Hurst acquired the property in 2012 and launched restoration project worth over £1m, developing the site into a venue for shows, corporate events and weddings.

The property features five bars and several function rooms, including a Grand Regency Ballroom, as well as a 60-cover restaurant. Its former hotel rooms are currently used as storage and office space, but could be reopened for overnight guests.

Hurst said: "After a decade of hard work, it is time to hand the baton over to someone else who can take the business to the next level."

Gavin Webb, senior business agent at Christie & Co, which is handling the sale, said: "The Old Bell Hotel is a property of historic significance in Derby and opportunities of this nature rarely come to the market.

"New owners will have the opportunity to further develop the business by creating up to 12 letting bedrooms in the upper floors of the premises."