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Hotel Collection to offload two properties with price tag of more than £12.5m

06 November 2014 by
Hotel Collection to offload two properties with price tag of more than £12.5m

The Hotel Collection is offloading two of properties from its 21-strong portfolio, following a refinancing of the company earlier this year.

Known as Puma Hotels until a rebranding five months ago, the Hotel Collection is looking for a figure in excess of £7m for the four-AA-star, 122-bedroom Palace hotel in Buxton, Derbyshire (pictured), and £5.5m plus for the four-AA-star, 100-bedroom Basingstoke Country hotel, near Hook, Hampshire.

The Grade-II-listed, Victorian-built Palace hotel, located within five acres of grounds, features a banqueting room for over 300 people and a health and leisure
club with a swimming pool and gym. It is close to the Buxton Opera House and the Peak District National Park.

Meanwhile, the Basingstoke Country, located five minutes from the M3, offers a restaurant, brasserie, health club, spa and banqueting facilities for up to 240 guests.

Jeremy Jones, director of hotels at Christie + Co, which is handling the sale of both properties, described the two hotels "highly profitable" with scope for further development. He said: "We are finding that there is an increasingly strong demand for quality provincial UK hotels and I expect the interest for the Palace and Basingstoke Country hotels to be high."

The Hotel Collection announces three new executive appointments >>

UK Group of Hotels, formerly Puma Hotels, goes into administration >>

Puma Hotels rebrands to The Hotel Collection >>

TagsFinance and Hotels
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