Administrators sell North Wales hotel
The Wild Pheasant Hotel in Llangollen has been sold out of administration by the Manchester office of Colliers International.
Investor Asif Siddiqui acquired the hotel and plans to run it under management. Colliers International sold the hotel on behalf of joint administrators David Costley-Wood and Brian Green of KPMG.
The Wild Pheasant has 46 rooms, a function suite for 200 guests, 60-seat Yew Tree Restaurant and a courtyard bar.
Neil Thomson, associate director of Colliers International, said: "The Wild Pheasant Hotel has firmly established itself as one of the area's leading commercial hotel venues popular with corporate, tourist and leisure markets.
"The hotel had been operated under management whilst in administration and continued to trade profitably whilst new buyers were sought. It clearly demonstrates the strength of the market place for good quality, profitable hotel assets and despite popular belief, highlights the banks' continued appetite to lend within the hospitality sector."
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