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.
This is a unique opportunity to acquire the assets of a well-established vehicle rental company that has been operating since 1981, with a diverse portfolio including 357 commercial and 56 private vehicles.
The company specialises in the manufacture and supply of high-performance, durable filtration products, with a focus on items suited for use with dust extraction systems.
This is a rare opportunity to acquire a well-established ecommerce brand with a strong domain authority and loyal customer base, featuring a high-performing Shopify store with 10,785 active SKUs and a remarkable 52,000 engaged email subscribers.
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.