Bredbury Hall sold for £5m

The hotel and country club near Stockport has been sold to operator Vine Hotels by agency Lambert Smith Hampton on behalf of administrator FRP Advisory.

Vine Hotels operates 10 hotels across the UK, some unbranded and some branded, such as the Best Western Cresta Court in Altrincham.

The 149-bedroom Bredbury Hall Hotel has been closed throughout the sales process due to the Covid-19 pandemic. The property’s previous owner Newco Ventures was placed into administation last October, with 90 redundancies.

In a statement of affairs registered with Companies House earlier this month, Newco Ventures posted a long list of company creditors including 172 entries totalling just more than £9.3m, the largest being an “AIB Main Facility Loan” logged at close to £4.7m.

The hotel was sold for its guide price asking for offers in the region of £5.25m for the freehold.

LSH said that, following a full open marketing campaign, Bredbury Hall generated significant interest leading to numerous offers being made.

The property features conferencing and banqueting facilities for up to 200 people and a recently refurbished restaurant. Also included is a 16th century barn that formerly traded as “a renowned regional nightclub” with capacity for 900 guests, which presents an opportunity to be repurposed either as a wedding venue or spa facility, the agent said.

Martin Davis, director of hotels & leisure at LSH, said: “We firmly believe this opportunity offers so much potential to the incoming owners. The hotel offers a number of potential opportunities, none more so than the repurposing of the 16th century barn.”

Peter Broadbent, senior manager, restructuring advisory at FRP Advisory, added: “A strong level of interest was received over the course of the marketing process which reflects both the hotel’s inherent popularity and the potential for a prospective purchaser.”