The 35-bedroom riverside Red Lion hotel in Henley-on-Thames is to undergo a major refurbishment after being sold to hotel developer Grace Leo and Singapore-based shipping entrepreneur Tim Hartnoll, off a guide price of £7.5m.
The grade-II-listed former coaching inn, with parts dating to the 15th century, has been sold by Mandip and Sam Gill of MG Hotels who bought the hotel in 2007 off an asking price of £5.5m.
Planning permission is in place to add a further 16 bedrooms within the existing footprint, while there is also the potential to further extend the property.
Leo has wide experience in developing luxury hotels including the Four Seasons Hotel London at Ten Trinity Square and the Cadogan hotel, London.
She said: "After a prolonged search, Tim and I are delighted to have acquired the Red Lion hotel. We see enormous potential for the property especially in a post Covid-19 world in which we envisage that domestic tourism will become increasingly important, and changing working patterns mean that properties such as this have the potential to re-establish themselves as important community hubs.
"Now, we plan to embark on an extensive refurbishment process, drawing on my years spent in France and England, in order to create a chic and comfortable hotel, an excellent restaurant and a convivial meeting place."
Hartnoll is executive chairman of X-Press Feeders, part of the Sea Consortium group.
Gill added: "We have enjoyed being a custodian of this magnificent hotel for the last 13 years. We are very pleased to have experienced a seamless process and to be able to hand the baton over to Grace and Tim for the next phase of the hotel.
"Our journey and focus will continue on our residential development/serviced apartment business as well as redevelopment and repositioning of the Manor hotel in Datchet Windsor."
The Red Lion was marketed by Knight Frank on behalf of the vendor.