Thu, 02 May 2024 | COMMERCIAL PROPERTY
Two country hotels in the South East of England have been sold following a confidential marketing process carried out by property management firm Colliers on behalf of undisclosed clients.
The Hickstead Hotel in West Sussex and The Grovefield House Hotel in Buckinghamshire have been acquired by Uno Hotels, which will run the sites through two newly-established companies: Cumberland Assets and Four Hillside Assets.
Uno Hotels acquired the two hotels for an undisclosed price after the confidential sale process attracted a number of substantial offers.
The Hickstead Hotel has 52 en-suite bedrooms and a bistro that can seat 60 covers, set within extensive gardens. The Grovefield House Hotel, which dates back to the Edwardian period, has 40 en-suite rooms, a restaurant and bar/lounge and is set in 7-acres of private landscaped gardens.
Julian Troup, Head of Colliers’ UK hotels agency team, commented: "The sale of these hotels was conducted in a highly confidential manner. Despite this, we still managed to generate competitive interest from a diverse range of buyers, indicative of the quality of these properties and their strategic locations."
Troup added: “We have seen 2024 get off to a strong start in the hotels market and these sales takes us to 17 completed UK hotels sales already this year and we believe we will continue to see serious interest from both domestic and overseas buyers throughout the 2024.”
Vijay Singh Bhandari of Uno Hotels said: "Both of these hotels are fantastic historic country hotel businesses that benefit from a loyal base of both leisure and corporate visitors.”
"I’m thrilled to be working with the local teams and have ambitions to update and refurbish the hotels to make them destination hotel venues to suit the calibre of guests we’re looking to welcome.”
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