Neptune Apartments, the collection of 12 luxury serviced apartments on Cheltenham's Promenade, has been acquired by Gloucestershire entrepreneur and property investor Charles Perkins, securing the long-term future of the business and reversing plans for its previously announced closure.

The acquisition includes both the luxury apartments on The Promenade, Cheltenham, together with the well-established Neptune Apartments brand, ensuring the business will continue welcoming guests.

The announcement comes just weeks after former owners Jim and Mandy Hawtin revealed their intention to retire after four successful years’ operating Neptune Apartments, having transformed the prominent Promenade buildings into luxury serviced accommodation following a near £1 million investment. Since opening in February 2022, Neptune Apartments has earned an outstanding reputation for quality, service and hospitality, attracting both business and leisure guests from across the UK and overseas.

The new ownership team has confirmed its commitment to preserving everything that has made Neptune Apartments successful while investing in the next stage of the business's growth.

Alongside this acquisition, Charlie Perkins has appointed Matthew Bevis as Managing Director of Judges Lodgings, the company responsible for managing his expanding hospitality portfolio of more than 40 serviced apartments, including the highly regarded Judges Lodgings in Gloucester. The new owners were attracted to Neptune Apartments by the exceptional quality of the bespoke luxury accommodation, its enviable reputation within the hospitality sector, its loyal returning customer base and its unrivalled location in one of Cheltenham's most iconic Regency buildings.

Charlie Perkins said:

"Neptune Apartments is one of Gloucestershire's outstanding hospitality businesses, and I am absolutely delighted that we have been able to secure its future. I was attracted to Neptune Apartments by the exceptional quality of the bespoke luxury accommodation, its enviable reputation within the hospitality sector, its loyal returning customer base and its unrivalled location in one of Cheltenham's most iconic Regency buildings.

“Jim and Mandy have created something very special over the past four years. They have built an exceptional reputation, consistently delivering first-class guest experiences and well-established standards, which are regularly commented on by their guests.

"Our intention is very simple – to protect everything that guests already love about Neptune Apartments while carefully building on those strong foundations. I am equally delighted that Matt Bevis has joined us as Managing Director. His experience, leadership and passion for operations and customer service make him the ideal person to lead the next chapter for Neptune Apartments and our wider portfolio."

Matthew Bevis said returning to Gloucestershire made the opportunity even more exciting:

"Having spent twelve years in Gloucestershire, it feels fantastic to be coming home and becoming part of the county's business community once again, after several years working in the corporate world in London.

"Neptune Apartments already enjoys a fantastic reputation because Jim, Mandy and their team have worked incredibly hard to create an outstanding guest experience. That reputation is something we respect enormously. Our focus will be on maintaining those exceptionally high standards whilst continuing to invest in the business and ensuring guests receive the same warm welcome and luxury experience they have come to expect.

"Cheltenham continues to attract visitors from around the world for business, festivals, racing and leisure, and Neptune Apartments is perfectly positioned to showcase everything the town has to offer. We are excited about what the future holds."

The acquisition marks another significant investment by Charlie Perkins in Gloucestershire's hospitality and property sector.

The business has also just completed the acquisition of 2, 3 and 4 Beaufort Buildings in Gloucester, a prominent Grade II-listed terrace in the heart of Gloucester city centre. Subject to obtaining the necessary planning consents, the buildings will be sympathetically converted into a high-quality boutique hotel, bringing another distinctive hospitality destination to the city whilst preserving an important part of Gloucester's architectural heritage.

The continued operation of Neptune Apartments has been welcomed by Cheltenham's tourism and business communities, preserving one of the town's leading luxury accommodation providers and safeguarding a respected local hospitality brand. Guests can continue to book future stays with confidence as Neptune Apartments enters this exciting new chapter under its new ownership.

Fran Inman, CEO of Cheltenham BID commented:

"It is fantastic news that Neptune Apartments will continue operating and that this highly regarded Cheltenham hospitality business has secured its future.

Quality accommodation is vital to the success of our visitor economy, and Neptune Apartments has become a valued part of Cheltenham’s offer since opening. We welcome the new investment and look forward to seeing the business continue to thrive, supporting visitors, residents and the wider town centre economy."

Steven Murray, President of Cheltenham Chamber of Commerce commented:

“It’s great that the goodwill and reputation built up in the Neptune name gets to continue. Mandy and Jim have created a legacy that enables us to showcase our Town to visitors”.

Lisa Kowalkowski, Destination Marketing Manager, Visit Cheltenham commented:

"I am absolutely delighted that new owners have been secured for Neptune Apartments. This is fantastic news for Cheltenham and for our visitor economy, ensuring that this unique accommodation offering remains part of the town's hospitality offer. Neptune Apartments provide a high-quality, distinctive place to stay in a prime town centre location, appealing to both leisure and business visitors. Having such a diverse range of accommodation is vital in helping us attract visitors, encourage longer stays and showcase the very best of Cheltenham. I look forward to seeing Neptune Apartments continue to welcome guests and contribute to the town's thriving tourism and business community." - Lisa Kowalkowski, Destination Marketing Manager, Visit Cheltenham