Grade II-listed country house hotel and golf course near Macclesfield acquired

Shrigley Hall Hotel, Golf & Country Club in Cheshire has been acquired by Doncaster-based leisure operator Prahi Limited.

The Grade II-listed country house hotel, located in Pott Shrigley near Macclesfield, is a four-star venue featuring 148 guest bedrooms.

Set within 262 acres of private grounds, Shrigley Hall also comprises a restaurant, bar, health club, 13 conference rooms and an 18 hole-golf course.

The property, sold by leisure operator The Hotel Collection, was the last remaining asset in Project Solstice – a portfolio of 10 regional UK hotels that came to market last year for a combined guide price of more than £130m.

Martin Rogers, head of UK hotel transactions at Savills, which represented The Hotel Collection, said: “This deal is of particular significance as it brings the sale of the high profile Project Solstice portfolio to a close.

“The UK hotel market has had a strong start to 2017 with high levels of demand from both overseas and domestic investors.”

He added: “We expect the second half of the year to be equally robust.”

Savills Manchester hotels director Tom Cunningham commented: “The hotel market in the North of England is particularly attractive to investors due to the prices and returns available.

“With multiple income streams and a strong corporate and leisure trade, Shrigley Hall appealed to numerous different investor types. We are pleased with the excellent result achieved on behalf of our client.”

Prahi Limited secured funding for the acquisition from Allied Irish Bank (GB).

Mr Ahmed, director at Prahi Limited, said: “I am delighted to complete the purchase of Shrigley Hall Hotel which has an impressive location and superb leisure facilities.

“We have plans to enhance the current surroundings and make this a truly amazing hotel which will be enjoyed by new and existing customers to the hotel.

Allied Irish Bank (GB) relationship manager David Booth commented: “This is a very important sector for the bank and we are delighted to support Prahi Limited with this acquisition.

Due diligence was provided by Paul Smith and his team at advisory firm Duff & Phelps.

Paul Smith said: “This successful deal follows numerous assignments we have had in the hospitality sector in recent times, adding to our already considerable experience.

“We are delighted to have worked with Allied Irish Bank (GB) and the Management team on this transaction, and wish the new owners every success in the future running of the business.”