Hotels

Ruthin Castle Hotel sold for £4.95m

The Ruthin Castle Hotel and Spa in North Wales has been sold to a Newco buyer, backed by a Yorkshire based entrepreneur, off a headline price of offers in the region of £4.95m.

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, the Welsh government’s historic environment service, 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, spa and full service 4-star hotel of quality and renown.

The buyer was also behind the purchase of Chevin Country Park Hotel and Spa (52 letting bedrooms and leisure and spa complex) which was sold to them by Colliers International.

Julian Troup, head of UK hotels agency at Colliers International, said: “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.

“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.”

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