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Sale of Quorn hotel completes disposal of Prima portfolio for more than £16m

04 April 2016 by
Sale of Quorn hotel completes disposal of Prima portfolio for more than £16m

The sale of the four-AA-star, 36-bedroom Quorn hotel in Quorn, Leicestershire, to Talesh Hotels completes the disposal of Prima Hotels, the portfolio of five properties that went into administration nearly a year ago.

Talesh Hotels, the owner of six properties in Warwickshire, Derbyshire, Cheshire and the West Midlands, bought the Quorn hotel off a guide price of £2.5m, taking the final total of the money raised by the sale of the Prima properties to more than £16m.

Located within four acres of ground on the banks of the River Soar, the Grade II-listed, 17th century property features a one-AA-rosette restaurant and banqueting facilities for up to 300 guests.

The Quorn hotel was the last remaining Prima property to be sold, following the disposal of Hellaby Hall in Rotherham, off a guide price of £5.6m, and two properties in Cheshire: Nunsmere Hall, Northwich, for £5.35m and the Stanneylands hotel, Wilmslow, for £4.15m. All four hotels have been sold by property agent Savills.

AlixPartners was appointed as administrator of all five Prima hotels following a failure by the operating company to meet its debt commitments.

Ryan Grant of AlixPartners said: "We are delighted to have concluded the sale of the Quorn hotel and wish the new owners every success for the future."

Martin Rogers, head of UK hotel transactions at Savills, added: "The Quorn hotel is the area's only four-star offer and has a strong trading record. Its picturesque setting on the banks of the River Soar makes the venue a popular choice for weddings and the new owners will therefore benefit from multiple income streams."

Rotherham's Hellaby Hall hotel sold off guide price of £5.6m >>

Stanneylands hotel sold to Mere golf resort for £4.15m >>

Nunsmere Hall hotel in Chester sells for £5.35m >>

Portfolio of four Prima hotels to be sold for £18m >>

Prima Hotel Group properties in administration >>

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