Thu, 13 Aug 2020 | DIVISION SALE
Administrators have put three hotels in the North of England that were previously part of the Shepherd Cox Group on the market. Property consultancy Lambert Smith Hampton (LSH) has been instructed by administrators at Harrisons Business Recovery and Insolvency to sell the hotels.
The hotels are: Hallgarth The Manor Hotel; the Allerton Court Hotel and the New Hobbit Hotel. The hotels can be acquired either individually or as a portfolio.
The Hallgarth Manor Hotel is a 16th-century, 24-bedroom hotel at Pittington, near Durham, County Durham. It is set in a four-acre estate and has three restaurant areas, with 140 covers, as well as a bar, residents lounge and function room with capacity for 240. The hotel, which has annual net turnover of over £950,000, has recently undergone a £2 million refurbishment and is being marketed at a guide price of £1.75 million.
The Allerton Court Hotel near Northallerton, North Yorkshire is a 44-bedroom hotel which is on the market for £2.9 million. It has two restaurants and a bar, with a total of 120 covers, and a 240-capacity function room. The hotel has annual net turnover of £1.23 million.
The New Hobbit Hotel near Sowerby Bridge, Halifax, West Yorkshire is a 30-bedroom hotel, with a bar and restaurant spaces with 60 covers and a function room with 120 capacity. The hotel generated net turnover of £747,009 and LSH are seeking offers over £1 million.
LSH Director of Hotels and Leisure Martin Davis said: “All three of these hotels have been trading under the Best Western brand and are extremely well-located. Each of the hotels is well-established and draws trade from all over the UK in addition to regular, local custom.”
“As such, we anticipate they will generate strong interest from a wide range of purchasers, including investors and owner-operators.”
The three hotels are not the first associated with Shepherd Cox Group to enter administration recently. In June, Quantuma was appointed to oversee the administration of six companies, each operating a separate hotel under the Shepherd Cox Group.
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