Wychwood Park hotel sold for £8m
Mokan Hotels Company has bought the Wychwood Park hotel and golf course in Crewe, Cheshire, from Principal Hotel Company off a guide price of £8m.
Legacy Hotels & Resorts will manage the hotel on behalf of Mokan Hotels, a company which has three Bahrain-based investors and was incorporated in the UK in January.
The 108-room property has an 18-hole, European PGA TOUR-standard golf course with its own dedicated clubhouse.
The acquisition of Wychwood Park is the second hotel to be secured by Mokan from the Principal Hotel Company this year, after scooping up the 110-bedroom New Place hotel in Southampton in March. New Place is also managed by Legacy.
Andy Townsend, chief executive of Legacy, said: "We are delighted to welcome Wychwood Park and the team to our portfolio. The property has been on the market for a little while and I am pleased to be able to provide clarity and stability to the team as we set out our investors approach in developing the property over the coming months.
"I believe the hotel holds extensive opportunities to improve and enhance its overall offering, our team, with the backing of our investors are convinced that we can establish the hotel as one of the regions premier resorts and we look forward to starting that journey early in the New Year".
Legacy Hotels & Resorts has secured four new hotel projects in the last eight weeks including the acquisition of Crabwall Hotel & Spa, also in Cheshire; a 200 bedroom hotel development project in central Reading, Berkshire; and the management of the Hilton Garden Inn at the Stadium of Light, Sunderland. It now manages a total of 18 hotels in the UK and one in Spain.
Legacy Hotels acquires Crabwall Manor for £6.45m >>
Legacy Hotels and Resorts takes over management of Newquay's Hotel Victoria >>
Legacy Hotels and Resorts operates four properties from Surya Hotels >>
Videos from The Caterer archives
