Thu, 08 Dec 2011 | BUSINESS SALE
A mansion in North Wales known as the 'Welsh Versailles' has finally found a buyer following a radical drop in its asking price.
The Grade I listed Victorian Kinmel Hall, which is located in St George near Abergele, lies in 5,000 acres of landscaped parkland and has been hunting for a buyer to turn it into a hotel.
The premises was due to be sold at an auction held at the Radisson Blu Portman Hotel in London earlier this week, but its owner exchanged contracts with a buyer just minutes before the auction took place.
The asking price, which started off at £3.5 million, was cut by almost 60 per cent to £1.5 million in a bid to find a buyer for the building, which dates back to 1848. Kinmel Hall comes complete with existing planning permission to convert it into a hotel.
Auctioneer Simon Riggall of property consultants Lambert Smith Hampton, who were charged with overseeing the sale, said that there had been interest in the building from buyers – including hotel chains - across Canada, China and Morocco.
Meanwhile, Mark Baker, Welsh heritage expert, told Wales Online that he hoped the new buyer would restore Kinmel Hall in a sympathetic manner.
“It’s incredibly important. It’s the largest private house to survive in Wales. It was called the Versailles of Wales because it was based on part of the French royal palace and Hampton Court Palace,” said Mr Baker.
Acquire a well-established artwork and gallery services business with a strong network of artists, collectors, and repeat customers.
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