Today’s news in brief – 1/2/24
Tim Batchelor has been appointed as the new general manager for Boys Hall in Ashford, Kent, as the hotel enters its second year of operation. The nine-bedroom Boys Hall, opened last summer after restoration, received awards in its first year, including Best Hotel in the South of England and Country House Retreat of the year. Batchelor, known for his passion for food and drink and his experience at The Pig Hotels, will work alongside head chef Charlie Dilworth and oversee new changes for 2024. These include the introduction of a wilderness spa area, a workshop space, an outdoor kitchen, and the transformation of the grounds into an antiques barn. Kristie and Bradley, the husband-and-wife team behind Boys Hall, also plan to add nine new bedroom huts to the property.
CoStar data reveals that the total transaction value for hotels in London in 2023 amounted to just over £1bn, marking a 36% decrease compared to the previous year, the lowest in the past decade. The uncertainty around interest rate stability and increased debt costs led to a slowdown in deals. However, the return of sizable deals towards the end of 2023 suggests a potential turning point. Notable transactions include Archer Capital B.V. acquiring two Hoxton hotels for approximately £213m, and KOP Limited’s acquisition of the Best Western Burns Hotel for £30m. Value-add purchases remain a priority, especially for foreign buyers interested in opportunities with potential upside value.
Grayshott Health Spa in Hindhead, Surrey, has been put on the market for an undisclosed sum after being vacant since 2020. The property, sitting on a 49-acre freehold site, offers opportunities for upscale wellness facilities, a care village, or residential development, subject to necessary planning consents. The spa, with 59 guest bedrooms and extensive facilities, is known for its holistic wellness offerings and indoor tennis facilities. The sale is jointly handled by Jeremy Jones at Christie and Co and Henry Jackson at Knight Frank.
Whitbread PLC, the parent company for Premier Inn, is planning to redevelop the Premier Inn Norwich Nelson City Centre site. The emerging proposals include replacing the existing hotel and restaurant with a larger, latest format Premier Inn, introducing purpose-built student accommodations, and new homes. The masterplan, designed by Sheppard Robson, aims to enhance accessibility, create landscaped spaces, and improve the river walkway. The redevelopment seeks to be a gateway to Norwich from the station and contribute to the community. Whitbread will launch a public consultation to gather feedback on the proposed plans, emphasising a substantial investment to revitalise the site.
