Reynolds Tavern listed for $4.7M
The Reynolds Tavern, a staple of downtown Annapolis since the 1700s, will be put up for sale, Hyatt Commercial Real Estate announced.
Home to a pub, restaurant and a bed and breakfast, the property has a $4.7 million price tag, Cecil Cummins, senior vice president of Hyatt Commercial, said. Hyatt, an Annapolis-based brokerage firm, will be coordinating the sale of the 7,620-squarefoot property.
Built in 1747 by local hat maker William Reynolds, the tavern, at 7 Church Circle and previously known as “The Beaver and Lac’d Hat,” has lived many lives, having served as a boarding house, bank and public library. At one point, it even shared an address with the Anne Arundel County Circuit Court next door before they became separate in 2014.
The building, known for its Georgian architecture, was transferred to the National Trust for Historic Preservation in 1974, its website states. The tavern was sold to Jill and Andrew Petit in the early 2000s. Their mission was to return the tavern to its colonial roots.
After purchasing the four-story property for $825,000, The Petits spent about $300,000 on renovations, The Baltimore Sun reported at the time. The couple set out to preserve the historic nature of the building.
“A lot [of people] got scared off by the historic nature of the building, but we have always lived in older houses,” Andrew Petit told The Sun.
In an effort to uphold its historic nature, the current operators of the tavern have maintained a Traditional English Afternoon Tea and Lunch service daily.
The Petits, who could not be reached for comment, decided to sell because their “goals changed,” according to Cummins.
“The next owner will have the privilege of leaving their mark on this cherished establishment, becoming its third private owner,” according to a Hyatt news release.
While the tavern itself will be sold, the businesses within will remain as they’re under a leasing contract, Cummins said.
“A sale of the real estate offers an opportunity for somebody to buy the real estate continue leasing to the current business owner and then potentially, in the future, bring in a new business owner or do something themselves or work with the existing business owners for something different in the future,” he said.
The impending sale marks yet another change for real estate on Church Circle. The former Coldwell Banker building at 3 Church Circle was sold last year to two former Naval Academy graduates for $2.8 million. Cody Monroe and Clint Ramsden have plans to convert the 10,000-squarefoot building into a small hotel with at least 13 rooms and two restaurants.
Another historic building on the circle, which previously held a bank, has been converted into a restaurant, Acqua al 2.