Doulting Stone Quarry in Somerset, which has been in use for more than 2,000 years, has been sold out of receivership for £2.6 million. The site has been acquired by Hopkins Estates in Wincanton, a family-run company established 50 years ago that is involved in property development, building materials supply and farming.
The quarry has supplied limestone to UK building projects since the Roman period, including to Wells Cathedral, Glastonbury Abbey and Guildford Cathedral.
Background and previous ownership
The quarry was previously owned by Doulting Stone Quarry Limited, which was established in 1994 by landowner Colin Keevil. According to Companies House, Mr Keevil applied to strike the business off the register in October, and a notice for voluntary strike-off was published in the Gazette, the UK's public records site, at the start of November.
Bill Hopkins, managing director of Hopkins Estates, said: "We are delighted to have acquired Doulting Stone Quarry, a business with a remarkable heritage and outstanding reputation. We look forward to working with the existing team to build on the quarry’s long history of success and drive the business forward for years to come."
Sale process and professional advice
The sale comes eight months after real estate firm Watling and joint agents Savills put the Chelynch Road site on the market. It was sold on behalf of joint fixed charge receivers Andrew Foster and Chris Walker to Hopkins Estates.
Chris Davies, a director in Watling’s Bristol office, said: "Acting on behalf of the fixed charge receivers and working collaboratively with the quarry operator, Colin Keevil, we are delighted to have successfully facilitated the sale of Doulting Stone Quarry. The sale of the quarry followed a competitive marketing process and the collaborative approach has also safeguarded the quarry’s future while preserving jobs within the local community. Doulting Stone Quarry represented a truly unique opportunity and, by drawing on our national reach and breadth of experience, we have delivered significant value for all stakeholders."
Legal representation
Law firm Addleshaw Goddard advised the joint fixed charge receivers, with solicitors Trethowans in Salisbury acting for Hopkins Estates. Law firm Thrings acted for Mr Keevil in the sale of the operational business to Hopkins Estates.
