Chartridge Venues on expansion trail
Chartridge Venues has bought the freehold interest of Marsh Farm hotel in Royal Wootton Bassett, Wiltshire, for £1.8m, nine years after the hotel was sold for around £3.6m.
The 48-bedroom property was sold by Savills, acting for administrators from restructuring and insolvency firm Moorfields Corporate Recovery. It sits close to Junction 16 of the M4 in two acres of land and comprises a Grade-II-listed country house with modern extensions, a restaurant, bar, beauty salon and conference facilities for up to 120 delegates.
It marks the fifth acquisition in the UK for Chartridge, which has conference venues in Birmingham, Chartridge, Hitchin and Swindon with a total of 200 bedrooms and 70 meeting rooms. The company aims to reach 15 venues over the next five years.
Graham Cantillion, vice-president at Chartridge, said: "Marsh Farm will be a great addition to our existing portfolio and we believe that it will contribute significantly to the future growth of the business. Chartridge anticipates further acquisitions during this year."
Chartridge Venues was launched in the UK in 1997. It was bought in November 2013 by Malaysian-owned company Vynett.
Gary Witham, hotels director at Savills, commented: "We have seen significant demand from South East Asian buyers generally and especially from Malaysian investors looking for established, value-for-money hotel businesses in the UK."
Country hotel in Wiltshire sells for around £3.6m >>
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