Acting on behalf of a private client, Colliers International has sold Ruthin Castle Hotel and Spa in Denbighshire, North Wales, to a Newco (newly formed subsidiary) buyer backed by a Yorkshire-based entrepreneur.
In an off-market deal the Castle, well known for its connections with the Royal Family, numerous members of the English and Welsh aristocracy, celebrities and politicians, sold off a headline price of offers in the region of £4.95m.
Ruthin Castle and Ruthin Castle Hotel comprise an impressive and imposing hotel and historic estate, of approximately 30 acres in Ruthin, North Wales. The Grade II* listed Hotel is a castellated mansion, dating from 1825-6 (extended 1851-6), incorporating parts of the original 13th Century red stone castle walls and romantic Italian and folly gardens.
The gardens, woodland, river and parkland surrounding the castle are designated by Cadw as being of ‘Special Historic Interest in Wales’. Throughout their ownership, the owners have overseen development and extensive restoration as a medieval banqueting venue, wedding venue, conference venue, popular spa and full service 4* hotel of quality and renown.
“The acquisition of Ruthin Castle Hotel and Spa was conducted in a highly confidential fashion and is a further example of both domestic and overseas buyers looking to secure a prime UK hotel outside of London,” said Julian Troup, Head of UK Hotels Agency at Colliers International.
“The sale was indicative of a wider trend of increased demand for quality provincial hotel opportunities from a diverse range of potential buyers, ranging from international investors attracted by weaker sterling and improving trading prospects, private buyers seeking the benefits of a lifestyle opportunity and corporate investors focused on favourable returns and real estate alternatives.”
The buyer was also behind the purchase of Chevin Country Park Hotel and Spa (52 letting bedrooms and leisure and spa complex) which was also sold to them by Colliers International.
