Former high-flying banker snaps up historic hotel
PUBLISHED: 17:24 06 March 2020 | UPDATED: 17:24 06 March 2020
A former City banker has bought his first Norfolk hotel to add to 10 pubs and inns around East Anglia.
Philip Turner, founder of the Chestnut Group, has taken over the Globe Inn, Wells-next-the-Sea to add to a huge portfolio. This includes several establishments in Suffolk including the Ship at Dunwich, The Crown at Westleton and the Black Lion in Long Melford as well one on the outskirts of Cambridge and others in Essex. His first pub, The Packhorse Inn in Newmarket achieved three AA rosettes, five AA stars and a Sawdays "favourite newcomer hotel' award in its first year.
But the acqusition of the Globe, for an undisclosed sum, situated in the Buttlands, is his first property in Norfolk.
Mr Turner, a former banker in London, has a knack of converting period properties into beautiful places to stay and dine in. His boutique restaurant and hotel The Northgate in Bury St Edmunds was recently a finalist in the Norfolk and Suffolk Tourism Awards 2020.
Chestnut was set up in 2012 with a vision to 'champion hospitality in East Anglia.' Mr Turner said: "We are really excited to welcome the Globe Inn into the Chestnut Collection. Having been looking to extend our East Anglian footprint into Norfolk for the past two years, we were extremely pleased to discover The Globe Inn, with its great location, successful business and talented team all sharing our vision and values to champion the best of the region.
"Personally, I always enjoy visiting the area, which is fast becoming a go-to destination with its impressive long sandy beaches and nature reserve, buzzing community and close proximity to historic Holkham."
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The Globe Inn is a restaurant and inn overlooking a pretty, leafy Georgian square and has 19 en suite bedrooms.
Stephen and Antonia Bournes, previous owners of The Globe Inn, said: "Having enjoyed owning and running The Globe Inn for the last six and half years, it has been a real delight to get to know and become a part of the Wells community. The decision to hand the ownership over to Chestnut is a natural one. We look forward to working closely with them in the transition period to ensure the best outcome for our loyal team, visitors and guests."
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