The business has acquired The Manor House Hotel in West Bexington, which was sold by real estate experts Colliers off a guide price of £1.7m, alongside the King William IV in Sedgeford, Norfolk; the Green Man in Stanford, Bedfordshire; the Green Man in Fownhope, Herefordshire.
Furthermore, it has also bought the Royal Wells Hotel in Tunbridge Wells and the Conningbrook Hotel in Ashford, both in Kent, from Shepherd Neame for £5.75m, meaning there has been about 105 bedrooms added to the company’s estate and taking the company’s portfolio to about 83 sites.
The Manor House Hotel is a Grade II-listed 16th century hotel had been owned by David and Alison Allen since 2010, who decided to sell the site, with its owners house, ahead of their retirement.
Great opportunity
David said: “We have thoroughly enjoyed our time at the Manor Hotel in this wonderful location overlooking Lyme Bay.
“We would like to thank our dedicated staff, customers and suppliers for their support and wish RedCat Inns every success in the future.”
The property hosts a cellar bar, which is popular with locals as it acts as the village pub and leads out onto the hotel’s manicured gardens, which can accommodate a 150-person marquee for events. Colliers acted for the vendors and Neil Hart at Bradley Hall acted for the purchasers.
Ed Jefferson from Colliers’ Hotels team said: “With RedCat’s recent high number of independent and unique hotel acquisitions, including a previous deal through Colliers for New Dungeon Ghyll in the Lake District, we thought this would be another great opportunity for them.
“We are glad they have recognised the appeal of this thriving business along the Dorset coast, which is attractive to visitors all year round. I wish David and Alison a very happy retirement.”
Company history
RedCat made its first acquisition with 42 pubs from Stonegate in March this year. The sites were spread across the country with the majority (25) in the south east, 11 in the north of England, two in the Midlands and four in Wales.
The package was a combination of 14 managed pubs and 28 tenanted with half of the managed sites in London.
This was followed by the New Dungeon Ghyll in Great Langdale in the summer (August). This deal represented the private equity-backed firm’s first foray into the Lake District and the latest in a succession of off-market deals brokered in the region by Colliers Hotels specialists.
Just a week later, it was announced the company was set to acquire The Coaching Inn Group for a rumoured £50m.
RedCat’s acquisition trail continued with the purchase of the Saint Arnold pub group, which included the Five Bells in Colne Engaine and the Lion in Earls Colne.
The group, which originally had four pubs, including the Griffin in Halstead and the Three Horseshoes at Fordham, had been up for sale before the pandemic hit and was owned by Darran and Caroline Lingley.
Credit: Source link
