Charlecote Pheasant hotel sold
A private UK real estate investment company has bought Stratford-upon-Avon's Charlecote Pheasant hotel, off a guide price of £3.9m.
The 69-room property, leased to Shearings Hotels, was sold to Hillview Real Estate, by agent Colliers International.
Shearings Hotels is part of the Shearings coach holidays tour operator, which runs 52 hotels around the UK.
In addition to 69 letting bedrooms, the hotel comprises a restaurant, seven conference suites, outdoor swimming pool, children's play area, tennis court and four acres of field for outdoor and corporate events.
It was first put on the market in 2013 with a 22-year unexpired lease at an annual passing rent of £350,000.
The hotel was originally built in the 18th century by the then Lady of the Manor, Mary Elizabeth Lucy.
Paul Barrasford, director, of Hotels Agency, said: "The hotel occupies a superb trading location, being just across from the beautiful Charlecote Park and Gardens and, of course, the ideal base for those visiting historic Stratford-Upon-Avon.
"A combination of the ongoing recovery of the wider transactional market for UK hotels, fantastic trading location and attractiveness of a long lease to such an established group (and their well-known brand) all resulted in the property generating a considerable level of interest from hotel investors."