Thu, 22 Apr 2021 | COMMERCIAL PROPERTY
A four-star hotel and wedding venue in South Derbyshire is set to reopen next month as agents continue to search for a buyer.
The Mercure Newton Park Hotel in Newton Solney was originally placed on the market by Colliers International for £2.2 million last year after owner and operator Jupiter Hotels revealed it hoped to focus on "other business interests".
The business has since remained closed due to the COVID-19 lockdown but is now set to reopen on 17th May as part of the government's plans to lift restrictions.
Commenting on the venue's current plans, a spokesperson said: "We can confirm that the Mercure Burton upon Trent Newton Park Hotel is currently for sale. This is a rare opportunity to acquire one of the area's leading tourist, function and event hotels."
"However, this does not affect our plans to reopen in line with national guidance on May 17, and all weddings booked to take place with us are expected to go ahead."
According to Colliers International, Newton Park Hotel is an "established business with diverse revenue streams from a range of demand drivers". The eight-acre site is currently used for a variety of uses, including as a reputable wedding and events business, as well as a popular tourist venue.
For potential buyers, the hotel has the facilities and potential to be used for a number of different types of businesses, including as a leisure hotel, an exclusive-use wedding venue or as residential, care or senior living accommodation.
The four-star hotel was originally acquired by current owners Jupiter in 2015, and in the following four years the property underwent significant refurbishment.
Read more about buying into the hotel sector.
One of the best ways to find properties below market price is to look at recent administrations.
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