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The Lion Quays Hotel & Spa has been sold by the Shropshire Leisure Group for a price in excess of its £10m guide price.
The property, located near Oswestry in Shropshire, comprises 17.2 acres of landscaped grounds including a stream, neighbouring canal and pontoon marina.
The property features an 82-bedroom hotel, the Waterside bar and restaurant which was completed in 2003 and a spa, leisure and fitness centre, including a Nico’s bistro, which was built in 2008.
RCapital, which purchased Shropshire Leisure Group in 2013, have invested in the business over the past three years which has included the appointment of an experienced management team and various capital expenditure works.
Most recently, the hotel underwent a refurbishment of 20 bedrooms. The new purchaser, Ashok Bansal, will undergo a refurbishment of the remainder of the bedrooms, restaurant and spa.
Charlie Macildowie, associate at JLL’s hotels & hospitality group, which handled the sale, said: “Following the work undertaken by RCapital since 2013, Lion Quays Hotel & Spa today represents an established profitable business with numerous opportunities for future growth both on the back of the buoyant regional UK hotel market and property enhancement initiatives.”
