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10th Elizabeth Hotels property bought out of administration

31 January 2011 by
10th Elizabeth Hotels property bought out of administration

The three-star, 76-bedroom Copdock hotel in Ipswich has become the 10th hotel, formerly belonging to Elizabeth Hotels, to be bought out of administration.

The freehold of the property was sold, off a guide price of £2-2.5m, to former care home owners Steve and Jane Denton from Cheshire.

All 11 hotels operated by Elizabeth Hotels in East Anglia and Essex were taken over by the administrators KPMG at the end of 2009. All have now been sold, except for the 11-bedroom Limes Hotel in Needham Market, Suffolk, which is currently on the market.

Jane Denton said the plan was now to return the hotel to its former glory by undertaking a significant refurbishment programme.

"We believe the hotel will return to its rightful place being one of the pre-eminent hotels in the Ipswich area, offering not only excellent hotel accommodation, but also an extensive conference and banqueting facility, which we plan to be one of the best in the entire region."

The sale of the hotel was handled by Colliers International, which is also marketing the Limes Hotel.

Elizabeth Hotels falls into administration >>

Hotel insolvencies soar by 61% in 2009 >>

By Janet Harmer

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