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Knights Hill Hotel and Spa, located on the outskirts of King’s Lynn, has been sold to an independent operator off a guide price of £7.95m.
Directly fronting onto the busy A149, Knights Hill Hotel features 79 bedrooms and has previously been under the ownership of Howard Darking for 40 years. The sale marks the end of his ownership of hotels in the area, having recently sold the Le Strange Arms Hotel, Hunstanton and Orton Hall Hotel and Spa, Peterborough.
The hotel includes the Farmers Arms pub as well as facilities for weddings, banqueting, and conferences. It was sold as a going concern, and the existing management team will remain in place under the new ownership.
Simon Jackaman, director at Christie and Co who handled the sale, said: “It has been a delight to have been asked by Howard to handle the sale of this hotel, and I am so thrilled to have secured an excellent buyer with great credentials in operating hotels in areas like this.
“The hotel has a very bright future with the new owner already looking to invest and improve upon the already high reputation the hotel has. It has been acquired as a going concern and the new owner is looking forward to continuing to build on the excellent reputation that Knights Hill had under Howard’s ownership.”
Commenting on the sale and his 40 years of ownership, Howard Darking added: “The property has evolved over the years from a farmhouse and extensive range of derelict farm buildings to the busy four-star property that exists today.
“I and the whole management team who will continue to run the property are particularly glad that the new owner clearly wishes to continue the successful evolution of the hotel and shares the high standards that we have sought to deliver to our customers over the years.”
