Norton Grange given £9.25m price tag
The 81-bedroom Mercure-branded hotel and spa in Castleton, close to Rochdale, is up for sale.
Knight Frank has been appointed as the sole agent to market the asset at a guide price of £9.25m.
The four-star destination includes a restaurant and bar, several event spaces, and leisure facilities including an indoor pool, spa and fitness centre with more than 1,200 external members and a fully equipped spa.
Norton Grange had been acquired by North Eastern hospitality group Ailantus in 2016, joining a portfolio that at the time included Mere Court Hotel in Knutsford, an asset which was sold on last year.
The Castleton hotel is set within around six acres of landscaped grounds, eight miles from Manchester city centre, with its access from the M60 and M62 motorways cited as an asset.
Knight Frank said that Norton Grange has a varied income stream across food, beverage and leisure, and benefits from having undergone comprehensive recent refurbishments throughout in addition to approved planning permission for a further 22 bedrooms.
Ryan Lynn, partner at Knight Frank, said: “Norton Grange presents an excellent opportunity to acquire an established branded hotel in a prime North West location, blending rural tranquillity with convenient city access to attract a diverse range of guests for corporate and leisure stays.
“The asset’s strong spa offering and clear scope for expansion provide a compelling platform for future value creation. We look forward to working with the vendor to secure a buyer that can continue building upon the property’s impressive trading performance.”
