Stanton House hotel in Wiltshire has been sold by Honda Motor Company off a guide price of £4.95m to John Mulchandani.
Around £2m has been set aside to "bring the business and property back to its former glory" with a refurbishment planned for the 78-bedroom hotel, located in the village of Stanton Fitzwarren on the edge of the Cotswolds. Meridian Hotels has been appointed to operate the hotel.
Paul Evans, operations director at Meridian Hotels, said: "Stanton House hotel is a charming property with its unique character, beauty and elegance. We are very pleased with this acquisition and will continue with the Stanton House hotel name and its current use as a hotel."
The property is set among 11 acres of landscaped gardens, which include a lake, orchard and rose garden, and has been under the same ownership for more than 30 years. The main manor building was reconstructed in the 1930s and is linked to the 1990s bedroom block extension by a glazed, two-storey section.
It has lounge and bar areas on the first floor and in the conservatory, which leads onto the garden. The manor house has three function rooms in addition to a main function room which can hold up to 110 guests.
Matthew Smith, partner in the hotels team at Knight Frank, said: "We are thrilled to have completed the sale of Stanton House hotel, with both buyer and seller pleased with a successful outcome. This is the second hotel we have sold to John Mulchandani, having purchased the Holiday Inn Sittingbourne in Kent through Knight Frank in 2019."
Peter Brunt, director of hotel agency at Colliers, added: "It is an exciting asset, with significant potential for development, either through expansion of its current accommodation and facilities or through residential development, subject to planning permission."