The four-star Leopold hotel in Sheffield has been sold to an unnamed international hotel management company at a substantial premium to the £4 million guide price.
The 89-bed boutique hotel was sold on by joint receivers Adrian Berry and Daniel Smith, partners at Deloitte, with global property advisors Colliers International and Bilfinger GVA acting jointly for the vendors.
Built in 1800 and originally the Central Technical School for boys, the hotel was restored and converted into a hotel in 2007 by the Prem Group. It also offers a restaurant, bar, fitness suite and conference facilities.
Julian Troup, head of UK hotels agency at Colliers International, said: "This deal represents an unrivalled opportunity to own Sheffield's only four-star boutique hotel. The property is ideally located in the city centre just half a mile from the train station and in close proximity to the town hall and the peace and winter gardens, which form the centrepiece of the urban regeneration of Sheffield."
Berry added: "There was a significant level of interest in the hotel and we are delighted to confirm completion of the sale, which protects the jobs of 70 employees. We wish both the purchaser and the employees well in the hotel's next chapter."
Latest video from The Caterer