Hand Picked Hotels makes trio of acquisitions in £30million deal
The owner of Wood Hall Hotel in Linton has expanded its 14-strong award-winning country house hotels portfolio with an additional three historic properties.
Hand Picked Hotels has purchased Grade II listed Hendon Hall in North London, Grade II listed Audleys Wood Hotel in Basingstoke and Grade I listed New Hall in Sutton Coldfield – from the Bridgehouse Hotels Group for a sum reported to be in the order of £30m.
Harrogate-based commercial law firm Davidson Webber LLP acted for Hand Picked as it continues its strategic UK growth. A team of five lawyers worked on the deal, partner Neil Large lead the deal and looked after corporate ad banking aspects, while property support was provided by Russell Davidson and Rebekah Fozard, and employment support by Louise Rea and David Hill.
Julia Hands, who with her husband well-known city financier Guy Hands purchased a collection of hotels in 2001 and created Hand Picked Hotels, said: “These three hotels are a great fit for our existing portfolio – they are trading well and have some beautiful features. They will add 189 bedrooms to the existing 760 bedrooms in the group.
Russell Davidson, managing partner at Davidson Webber added: “This is the latest in a series of transactions that we have worked on for Hand Picked and represents another major milestone in the company’s ambitions.
“The deal, which involved complex corporate structures on both sides, was completed on a tight deadline – our team’s industry insight and commitment ensured a smooth process throughout.”
More than £70 million has been invested so far in restoring and developing the existing 14 Hand Picked Hotels to stimulate growth in conferences, leisure, weddings and health clubs/spas. Recently projects have been completed at Rookery Hall near Nantwich, Cheshire, where £10 million was spent on a new spa and health club, new banqueting and conference facilities, plus 39 additional bedrooms. At Rhinefield House in the New Forest near Brockenhurst in Hampshire, a £4 million addition of conference facilities, health club and additional bedrooms has just been completed. At Norton House, close to Edinburgh, £13 million has been spent on a new spa and health club, conference and banqueting facilities and 36 additional bedrooms
