Wed, 25 Apr 2012 | COMMERCIAL PROPERTY
The De Vere Group is to sell two hotels from its portfolio for around £20 million in a bid to fund the development of other areas of its brand.
A buyer has already been lined up to acquire the Royal Bath Hotel in Bournemouth and the De Vere Daresbury Park in Warrington. Britannia Hotels, a rival of De Vere, will take over the two properties as part of the continued expansion of its brand.
Last year the group recorded an annual turnover of £360 million. But Andrew Coppel, group chief executive at De Vere, explained that the sales are part of a strategic review conducted earlier this year, which identified expansion potential in the Venues and Village brands of the business.
He added: “We are pleased to have successfully disposed of these two properties. The proceeds from our disposal programme will go towards funding a range of exciting development opportunities across the group, building a better De Vere and generating increased value for out stakeholders.”
Two more De Vere properties are also gearing up to be sold: The Grand Harbour in Southampton and the University Arms in Cambridge.
Established in 2004, the business has established a strong reputation among key public and private sector customers in Northern Scotland and across the rest of the UK.
We are pleased to present an exceptional opportunity to acquire a well-established and profitable haulage company based in the North West of England.
This is a superb opportunity to acquire a well-established, window and door retailer/installer based in Boston, Lincolnshire, available on a leasehold basis.
LEASEHOLD
Please choose your settings for this site below. For more information please read our Cookie Policy
These cookies are necessary for our website to function properly and provide you with access to all features.
These are analytics cookies that help us to improve the way our website works.
These are used to improve the functional performance of the website and make it easier for you to use.