Park House hotel in Shropshire sold to Crest Hotels
The freehold of the Park House hotel in Shifnal, Shropshire, has been sold to Crest Hotels for an undisclosed sum off an asking price of £2.5m.
The 54-bedroom, Grade II-listed property has five conference and meeting rooms, the largest of which has a capacity of up to 222, as well as a leisure facility including a 15-metre indoor swimming pool. It was previously owned by a private individual who is looking to retire.
Crest Hotels operates five hotels across the UK, including the Feathers hotel in Ludlow, Arnos Manor in Bristol, the Almondsbury Interchange hotel and the Holiday Inn Express Liverpool/Knowsley.
A spokesman on behalf of Crest Hotels said: "The Park House hotel is an exciting acquisition, given its excellent location, we look forward to investing in the successful future of this business."
Graham + Sibbald and Simon Stevens Associates acted as joint agents in the sale.
Martin Davis of Graham + Sibbald, which marketed the property, said: "This transaction and the strong interest generated in this business during the competitive marketing process, demonstrates that despite the Covid 19 pandemic the demand for well-located and realistically priced regional hotels remains."
Simon Stevens said: "Having a close working relationship with Crest Hotels for the last 20 years, we are pleased to have secured another hotel to add to their expanding portfolio. In fact, the Park House hotel closely follows the Tiverton hotel that Crest Hotels purchased early in 2021. Together we look forward to our continued efforts to secure more transactions in this extraordinary period."
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