AN upmarket pub in Upper Oddington, near Stow-on-the-Wold has been sold after being put on the market with an asking price of £850,000.

The sixteenth century, Grade II listed Horse and Groom has been bought by Cotswolds and Chilterns operators Old Amersham Hotels, which already has four hotels in Moreton-in-Marsh as well as Amersham.

Colliers International hotels director Peter Brunt said: “The Horse and Groom is one of the best looking – and best performing – pubs in the region. And as that region is the Cotswolds that is really saying something.”

The Horse and Groom is archetypal Cotswolds, with honey coloured stone walls, exposed timbers and roaring fires. The deal coincides with a sharp upturn in hospitality spending which saw hotels, restaurants and pubs benefit as consumer spending hit a 13-month high.

Mr Brunt added: “Although it is easy to be carried away by the sheer beauty of a Cotswolds pub, the new breed of owners we are talking to are just as conscious of the pounds, shillings and pence as they are of the appeal of exposed beams and open fireplaces. In addition to its sumptuous, sixteenth century surroundings, the Horse and Groom delivered profits in 2015 of £140,034, underlining the fact that as well as being located in one of the very best locations in the entire country, it is also a first rate business proposition.

“We have seen a flurry of activity in the market post Brexit and off-market deals are proving a popular way in which to sell a property, offering opportunities for new owners to get their hands on some very spectacular pubs and inns with prices ranging from just over £1 million to more than £3m.

Colliers International has agreed seven sales in the West totalling £8m since the referendum in June and predicts the market will remain robust through the rest of the year.”