Clive Watson, chairman of City Pub Co, told M&C Allegra Report the disposal was part of the company’s focus on developing hubs in key locations.
Brakspear said it planned to trade the 400-year-old Grade II listed building in its current form, while deciding on changes to align it with its other managed pubs. A sparkle is planned for 2016 for the site, which currently has two bars and 12 en-suite rooms.
The Townhouse is the second addition to Brakspear’s managed estate this year, following the acquisition of the George Hotel in Shipston-on-Stour, Warwickshire, in May, and the company is looking for further sites to expand the division.
Tom Davies, Brakspear chief executive, said: “We’re delighted to be taking the keys to this site in Stratford-upon-Avon, a town we’ve not traded in before and which we believe holds exciting potential. Its huge tourist population makes it a different proposition to our other managed pubs."
Last week City Pub Co secured the lease on Riverside House, in Bristol’s Old City, which will be converted to the company’s Brew House model.