Northern Powerhouse Developments continues hotel buying spree

21 December 2017 by
Northern Powerhouse Developments continues hotel buying spree

Northern Powerhouse Developments (NPD) has acquired two hotels in Cumbria and North Yorkshire in a multi-million pound deal.

The properties - the 90-bedroom Gilsland Hall in Brampton, Cumbria, and the 70-bedroom Esplanade hotel in Scarborough, North Yorkshire - were bought from the Co-operative Group.

The acquisitions follow a recent buying spree which saw NPD acquire three hotels in Devon and West Yorkshire.

Tom Cunningham, hotels director at real estate advisor Savills, which represented the Co-operative Group, said: "Gilsland Hall hotel and the Esplanade hotel are well-established in their respective markets, with each providing multiple income streams through a diverse mix of bedroom, conference and dining facilities. As such, they are attractive investments and we are pleased with the strong sale price achieved on behalf of our client."

Gavin Woodhouse, chairman of NPD, said: "We are delighted to have completed on the sale of these two iconic hotels which further strengthens our position within the hotel and leisure industry and reflects the positive strides we have made on the market over the past year."

Richard Lewis, chief executive of NPD Hotels, added: "Gilsland Hall and the Esplanade are two hotels which given their history and location will prove to be hugely successful acquisitions. We look forward to restoring them to their former glory and opening the doors to a new generation of visitor."

NPD recently bought the 100-bedroom Royal hotel in Woolacombe, Devon; the 51-bedroom Old Golf House hotel in Huddersfield; and the 41-bedroom Imperial Crown hotel in Halifax, West Yorkshire from Corus Hotels.

The Royal hotel is being refurbished and will be relaunched as the 96-bedroom Atlantic Bay hotel, and will become part of the group's Premier Collection, alongside the Llandudno Bay and Fourcroft hotels.

The Imperial Crown hotel will relaunch as the Coach House following refurbishment. The Old Golf House is also due a rebrand, although the new name has not yet been confirmed, and it will also serve as the group's new headquarters.

NPD now owns and operates a portfolio of 12 hotels across the UK, and launched Afan Valley Adventure Resort this year. All hotels are managed by Giant Hospitality, the operating division of the company. Richard Lewis, former boss of Best Western Hotels GB, was appointed chief executive of the business earlier this year to expand its portfolio and increase profitability.

Earlier this year the group also acquired the Wyncliffe House Hotel in Fishguard, Pembrokeshire; the Eden Country Spa hotel in Cumbria; and the Harland hotel in Scarborough.

Richard Lewis appointed chief executive of Northern Powerhouse Developments Hotels >>

Northern Powerhouse Developments acquires Tenby's Fourcroft hotel >>

100-bedroom hotel planned for Afan Valley Adventure Resort >>

Northern Powerhouse Developments acquires Llandudno's Queens hotel >>

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