The four-AA-star, 148-bedroom Shrigley Hall hotel near Macclesfield, Cheshire has been sold, marking the ninth and final disposal within the Hotel Collection portfolio.
The property has been sold for an undisclosed price, to a private investor and is now managed by real estate company Prahi, overseen by Ashfaq Ahmed.
Located withing 262 acres of grounds on the edge of the Peak District, the hotel is located within a Victorian country house and features an 18-hole championship golf course.
It was one of 10 regional properties within the Hotel Collection which US-based Lone Star Funds announced it would be selling for a combined total of £130m in March 2016. One of the hotels, the Aberdeen Altens is no longer on the market and is now being managed by Redefine BDL Hotels on Lone Star’s behalf.
New owners of the Hotel Collection properties include Andrew Brownsword Hotels, which acquired the Imperial hotel in Torquay; Cairn Group, the buyer of five properties off a guide price of £75m; Singapore-based Fragrance Group, which paid £12.8m for the Imperial hotel in Blackpool, and an unnamed overseas investor (Billesley Manor, sold for over £8m).
Tom Cunningham, hotels director at Savills Manchester, said: “With multiple income streams and a strong corporate and leisure trade, Shrigley Hall appealed to numerous different investor types. We are pleased with the excellent result achieved on behalf of our client.”
Martin Rogers, head of UK hotel transactions at Savills, added: “The UK hotel market has had a strong start to 2017 with high levels of demand from both overseas and domestic investors. We expect the second half of the year to be equally robust.”
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