Hilwood Hotels and Resorts has bought Bailbrook House conference centre in Batheaston, near Bath, for £9m.
Hilwood, which was set up last year by ex-directors of Hand Picked Hotels and investment adviser Delancey, intends to reposition the property as a premium luxury resort, although it will continue to run the conference and business centre until the conversion is complete.
The 18th century property, which occupies extensive 18.5 acre grounds, currently offers 78 bedrooms, 30 training and conference rooms, a 100-seat restaurant, a bar and gym facilities.
It becomes Hilwood's third property following its acquisition last year of the Grand hotel in St Helier, Jersey (which it bought from De Vere for £15.5m) and Bovey Castle, the luxury retreat in Devon which it purchased from Peter de Savary for £26.4m.
Savills handled the sale of Bailbrook House on behalf of the Sundial Group.
By Angela Frewin