SCP Hotels, a new company headed by multi-millionaire Hugh Osmond, has bought the Great House hotel at Sonning in Berkshire for around £5m.
Located on the banks of the River Thames, the 50-bedroom hotel will become the sister property of the Swan at Streatley, another riverside hotel in Berkshire bought by Osmond in November 2012, off a guide price of £6m. Osmond has a fortune of £240m, according to The Sunday Times Rich List 2013, which he has largely made through the floatation of Pizza Express and Punch Taverns.
The Great House hotel, which previously owned by Gordon Currie for 25 years, has two restaurants, a bar and modern conference suite.
SCP Hotels is now expected to go on to make further hotel acquisitions.
Hugh Osmond, commented: "We are looking forward to developing our hotel and restaurant concept over the next few years. The company has plans for substantial future investment in the Great House, which it views as a wonderful opportunity in a superb location, supported by a loyal and highly capable staff"
Dominic Mayes, head of Knight Frank hotels team, who advised on the purchase, said the company is looking forward to working with SCP Hotels on future similar acquisitions.