Graham + Sibbald’s Hotel + Leisure team led by Martin Davis were instructed to act on behalf of a corporate multiple hotel operator to acquire the freehold interest in the Castle Inn Hotel and Spa by way of an asset sale transaction through to a successful completion.
WHY G+S
If you are looking to purchase a business then we can help you find the best options that will meet your strategic needs and budget. If you have a business or part of a business that you are looking to sell, we can help you maximise the worth of your assets and optimise your returns.
We are recognised as one of the leaders in this field across the UK. We work across a range of business types and sectors, but have particular expertise in the Hotel, Licensed and Leisure sector. As a result, we are retained by many of the UK’s leading hospitality and leisure groups to manage the sales and disposal of their business portfolios.
If you are looking for a building surveying team who can help you maximise the value of your property and minimise your costs and liabilities, then we are the team to come.
We work with a broad spectrum of clients, including leading names in the public and private sectors. We represent a wide spectrum of retained clients including local authorities, inward investors, government departments, major retailers and industrialists, licensed trade operators and insurance loss adjusters amongst others.
APPROACH
We worked with our clients, the sellers agent and the solicitors to agree the basis of the transaction and helped to overcome a number of issues and see the transaction through to a successful completion.
SERVICES PROVIDED
The hotel which is located in the Northern Lake District close to Bassenthwaite Lake comprised 45 individual En Suite letting bedrooms, including seven suites.
The hotel also provides a spa facility including a heated indoor swimming pool and gymnasium as well as excellent conference and banqueting facilities. This includes a 200 cover function suite. The business was acquired for an undisclosed sum.
ADDED VALUE
In addition to assisting our clients with the acquisition and transactional process, Graham + Sibbald’s Manchester Building Surveying team led by Kyle Hargreaves were able to assist with the transaction by undertaking a thorough and comprehensive building fabric survey, supported by a dedicated M&E survey to report on the properties pre-purchase condition.
The report highlighted any urgent, short-term and long-term maintenance required, alongside any items pertaining to future legislation changes to ensure the prospective buyers were well informed and aware of any potential expenditure required in the future. This service ensured the prospective buyers were fully aware of their immediate and future obligations, to provide peace of mind and confidence in their potential investment.
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