Ruthin Castle hotel and spa has been sold by its private, British Virgin Islands-registered owner to a new buyer backed by an unnamed Yorkshire-based entrepreneur.
Property agent Colliers International brokered the off-market deal for the castle and hotel, which sold off a headline price of offers in the region of £4.95m.
The 60-bedroom, four-star hotel previously changed hands in 2014 via a pre-pack administration when it was sold to Ruthin Castle Estates, incorporating private equity firm Kepler Capital, Prima Hotel Group and existing management.
The most recent annual accounts lodged in Companies House, for the year to 31 December 2018, showed that Kepler Capital, registered in the British Virgin Islands, still owned 75% of Ruthin Castle Estates’ shares.
The new buyer was also behind the purchase of the 52-bedroom Chevin Country Park hotel and spa last year, which was also sold to them by Colliers International.
Ruthin Castle and Ruthin Castle hotel sit on 30 acres in Ruthin, north Wales. The Grade II-listed hotel is a castellated mansion, dating from 1825-6 (extended 1851-6), incorporating parts of the original 13th-century red stone castle walls and romantic Italian and folly gardens. The gardens, woodland, river and parkland surrounding the castle are designated by as being of ‘Special Historic Interest in Wales’.
Julian Troup, head of UK hotels agency at Colliers International, said: “The acquisition of Ruthin Castle Hotel and Spa was conducted in a highly confidential fashion and is a further example of both domestic and overseas buyers looking to secure a prime UK hotel outside of London.
“The sale was indicative of a wider trend of increased demand for quality provincial hotel opportunities from a diverse range of potential buyers, ranging from international investors attracted by weaker sterling and improving trading prospects, private buyers seeking the benefits of a lifestyle opportunity and corporate investors focused on favourable returns and real estate alternatives.”