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Bath's Lansdown Grove hotel sold off £8m-plus guide price

09 November 2020 by
Bath's Lansdown Grove hotel sold off £8m-plus guide price

The 61-bedroom Lansdown Grove hotel in Bath has been sold to Axcel Hospitality off a guide price of more than £8m after its operator, Shearings owner Specialist Leisure Group, fell into administration earlier this year.

Located in the Lansdown area of the city, the Grade II-listed hotel was previously one of two hotels - alongside the St George in Harrogate - that was run under the Country Living banner after Specialist Leisure Group signed a licensing agreement in 2018 with Hearst, the owner of Country Living magazine. Both hotels underwent multi-million refurbishments at the time.

Specialist Leisure Group, previously known as Shearings Leisure Group, went into administration in May 2020 and was one of the first high-profile casualties of the coronavirus crisis. The group operated a total of 44 hotels, as well as the Shearings coach holiday brand.

Axcel Hospitality manages a portfolio of seven hotels under a number of brands including Mercure Edinburgh Haymarket, AC Marriott Manchester Cable Street and Hampton by Hilton London Croydon. Lansdown Grove is Axcel's second hotel in Bath following its acquisition of the 65-bedroom Henriette House last year.

The sale of the Lansdown Grove was jointly handled by Savills and Carter Jonas.

James Greenslade, associate director of Savills Exeter office, said: "Lansdown Grove hotel is a beautiful hotel located in a popular tourist destination and as expected we received significant interest and a number of offers. There remains strong demand for hotels in key UK coastal and holiday destinations."

Philip Marshall, partner, commercial, Carter Jonas South West, added: "This acquisition represents an exciting addition to Axcel's portfolio and is evidence of its team's commitment to enhancing their presence in Bath and other key markets in the UK.

Bespoke Hotels has since taken on the operation of 40 ex-Shearings hotels, including the St George in Harrogate.

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