March 22, 2023
Historic hotel is sold for £2.1m
An historic 16th century hotel in Tonbridge has finally been sold after being on the market for almost five years. The 56-bedroom Rose & Crown on the High Street was originally put up for sale in August 2018 for just under £3 million. The price of the three-star Best Western venue was reduced to £2.1m in November last year and has now changed hands. Previous owner Nick Richards had owned the business for 11 years but is selling up as he retires. The new owners are Raghav Duggal and Ashita Duggal - described as "entrepreneurs within the travel industry" who are looking to expand their portfolio in the regional hotel market. They also purchased a Mercure hotel in Burton-upon-Trent last year for a similar price. Mr Duggal said: “When the Rose & Crown came on the market, it was a no-brainer. The hotel really appealed to me, it offers such a rich history and with its enviable Tonbridge High Street location, the business already benefits from such a strong customer portfolio.” Tbe hotel has two function rooms which can cater for up to 100 people as well as The Oak Room Bar & Grill. The sale was handled by Colliers.
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