STAFF have been told their jobs are safe following the sale of the Bells Hotel and Forest of Dean Golf Club.

A company owned by the well-known McKeag family from Newcastle has snapped up the golfing complex which employs 51 people and was on the market for £2.95 million.

Forest businessman Harry Kear says he is pleased to have sold the 52-bedroom hotel and 18-hole course which he has owned for six years.

And buyers, North of England Estates, say they have exciting plans for the future of the Coleford hotel and course which was created in the early 1970s.

The company, which dates back to 1934, already owns property across the North East, including Mount Oswald Manor and Golf Club near Durham. It was founded by the McKeag family.

Chairman Clive McKeag and director Nigel Galvin came to Coleford last weekend to speak to staff.

Mr Galvin said: "About four or five years ago we took a conscious decision to actively seek golf clubs with other income streams.

"We looked at a number of different properties and liked what we saw in the Forest of Dean.

"It is a lovely area and very much a destination that draws people in.

"We are really excited about this project and have no plans to make any redundancies.

"We want to enhance what is already there and have an exciting business plan going forward."

Mr Galvin says Mount Oswald is known for the quality of its greens and the company plans to involve the Forest in its agronomy programme.

He cannot discuss details of future plans for the business which Christie and Co claim turned over more than £1.6 million in the financial year ending March 2009. But he will be spending at least three days a week in the Forest and wants to bring his mountain bike to explore the area.

And he has not ruled out more acquisitions of golf courses with multiple income streams.

"It was a very amicable sale and it was a pleasure doing business with Mr Kear," he said.

Former bakery tycoon Harry Kear, 64, would not say how much he sold Bells for, but revealed the deal came after months of negotiations. He said: "North of England Estates are not laying people off and want to invest in the place so it is good news for staff and good news for the area.

"I'm very happy with the deal and now I plan to take some time off."