The 64-bedroom Bovey Castle hotel in the Dartmoor National Park, Devon, is to undergo a major refurbishment following its acquisition by the Eden Hotel Collection for an undisclosed sum.
Originally put on the market two years ago by property investment company Delancey for £17.5m, the hotel had previously been sold by Peter De Savary in 2006 for £26.4m.
The new owners will now immediately spend around £2m on undertaking essential repairs on the fabric of the property before taking a considered approach with regards improving the décor throughout.
The acquisition of Bovey Castle follows the recent announcement that the Eden Hotel Collection, which currently owns and operates seven luxury hotels across the Midlands and south west of England, will investing £13.5m in redeveloping Tides Reach in Salcombe, Devon, into a 50-bedroom hotel and spa.
"This famous property has a national and international reputation for excellence and we are very much looking forward to cementing its place as the jewel in the crown of the leisure industry in the south west." he explained.
"The acquisition of Bovey very much fits in with our long-term plans to buy hotels with 40 or more bedrooms."
Bovey Castle incorporates an 18-hole golf course, spa, country lodges and an outdoor pursuits centre.
In addition to Bovey Castle and Tides Reach, the Eden Hotel Collection comprises Buckland Tout-Saints hotel, Devon; Mount Somerset hotel and spa, Somerset; the Kings hotel, Chipping Campden; the Arden hotel, Stratford-upon-Avon; Brockencote Hall hotel, Worcestershire; the Greenway hotel and spa, Cheltenham; and Mallory Court, Leamington Spa.
The Eden Hotel Collection is part of the Rigby Group, headed by Sir Peter Rigby. Originally focused on technology, it has evolved into a £1.8bn business comprising hotels, airports, real estate, finance, aviation, as well as technology.