Bath’s former Grade I listed Carfax Hotel has been acquired by the owners of the city’s Abbey Hotel and will now be transformed into a luxury boutique hotel.
The acquisition by Ian and Christa Taylor, who also own Villa Magdala, ends speculation over the future of the 31-bedroom the Georgian building on Great Pulteney Street and fears that it would be converted into apartments.
Last month upmarket commercial property agents Savills put the hotel, formerly run by the Salvation Army, on the market with a pric
e tag of £4.5m-plus. The building is now to open this summer following complete refurbishment. The price paid by the Taylors has not been disclosed.
Ian Taylor said: “We are thrilled to be bringing this building into our portfolio. Since arriving at the Abbey Hotel four years ago, there’s been no doubt that Bath would be the focal point of our business, working closely with the local community.
“Our new property has one of the best addresses in Bath and incredible potential. We will retain the integrity of the building, in an up-to-date interpretation with a nod to the history of Bath. We can’t wait to reveal more in the coming months.”
The Taylors said they wanted to make the most of the hotel’s historic central location, moments from Bath’s best sites but in a quiet area.
“It will offer guests all of the understated sophistication of a private townhouse, with the service, charm and elegance of a luxury hotel,” they said. “This will be a stylish place to stay and a meeting place for local residents; relaxed and comfortable, with a touch of modern glamour.
“Forty individually designed bedrooms will be joined by a chic cocktail bar that will serve classic drinks and delicious food throughout the day. This will be Bath’s newest spot for breakfast, afternoon tea and early evening drinks.”
The building – made up of Grade I listed three terraced townhouses and a two-storey coach house – was acquired by the Taylors in a sale overseen by Barclays in a deal led by Bath-based relationship director Matthew Smart.
He said: “The purchase of The Carfax Hotel will build on the Taylor’s strong market position in Bath with an expert management team and an impressive track record of delivering on their business strategy.
“Ian and Christa’s on-going expansion plans mean they are well placed to capitalise on Bath’s robust tourist industry and secure long-term growth. From Barclays’ perspective we are seeing an appetite for funding from similar businesses in the region which can only be good news for the local economy.” 
The Carfax Hotel was acquired by Italian property firm Geco Spa in 2014 for £3.25m. Last year, upmarket hotel chain Vineyard Group announced plans to develop and then manage the site as a 40-bedroom boutique hotel. The group owns or manages a string of hotels including the Vineyard and Donnington Valley hotels in Berkshire.
Savills head of UK hotel transactions Martin Rogers said: “Investor demand for hotels in Bath’s thriving market far outweighs supply and, as such, this property generated extraordinary levels of interest. We are pleased with the strong sale price achieved on behalf of our client.”
Bath’s largest law firm Withy King advised the Taylors on the deal. Partner and head of the commercial property team Paul Daniels, pictured above, who worked closely with the couple, said: “I am delighted that we manged to complete this purchase for Ian and Christa in just over two weeks from receipt of the contract.
“This was despite some complex tax issues including an unexpected change to Stamp Duty Land Tax rules in the Budget. My team have acted on the purchase and sale of many hotels throughout the South West but this property has the potential to be one of the very finest.”
