Mon, 29 Apr 2024 | COMMERCIAL PROPERTY
The freehold of a hotel in Knutsford that fell into administration earlier this year has been brought to market. The Courthouse in Knutsford was part of the Flat Cap Hotels Limited group of hotel and restaurant locations across Cheshire.
The group, which operated three hotels, fell into administration in January. Following the appointment of Gareth Prince, Mark Malone and Julian Pitts of Begbies Traynor as joint administrators, The Bridge in Prestbury and The Vicarage in Cranage continued trading as normal, but The Courthouse ceased trading with immediate effect.
At the time, the joint administrators said that the company had been hit by a range of factors that have affected the wider UK hospitality sector.
A spokesperson for the joint administrators said: "Like many others in the hospitality sector, despite having an excellent reputation and a strong brand, the business has been impacted by a combination of factors, including the pandemic, inflation and the challenging economic environment for consumers."
The freehold of the grade II-listed hotel, a former Crown Court building, has now been brought to market by Savills for an undisclosed sum. The hotel comprises nine bedrooms, a bar and restaurant with private dining areas and two meeting rooms that can be converted into double bedrooms.
The site also features The Banquet Hall wedding venue, which provides a private bar for 300 guests and can also be utilised for other events, as well as 30 parking spaces. In addition, the venue has planning to permission to add a further 42 bedrooms and construct a rooftop bar.
Tom Cunningham, UK regional director, Hotel Capital Markets, at Savills Manchester, commented: "The Courthouse is a historic 19th century property situated in ideal location near the Peak District National Park which attracts over 13.25 million visitors each year.”
"With current planning permissions to further enhance its offering, we expect a good amount of interest moving forward."
The two other hotels in the Flat Cap group continue to trade under the management of Condor Hotels, while administrators attempt to find buyers. The Bridge is up for sale for offers in excess of £4.5 million, while The Vicarage is on the market for offers in excess of £2.5 million.
Read more about M&A trends in the UK hotel industry
Click here to download our free guide on finding and buying distressed businesses and assets
Luxury hotel with multiple dining areas and self-catering units available for sale.
FREEHOLD
Discover an exceptional opportunity to own a charming freehouse and inn, complete with a luxurious detached owner's residence, nestled in approximately 10 acres of breathtaking countryside.
FREEHOLD
A luxurious spa hotel opportunity in the heart of the Lake District, ranked as the top hotel in Windermere, featuring eight exquisite spa suites along with an elegant bar and restaurant, is now available for acquisition.
FREEHOLD
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.