Lavender Hotels has sold its interest in the Best Western Park Hall Hotel in Lancashire to property company, GC Capital for an undisclosed sum. The 140-bedroom hotel, which operates under the Best Western brand, is situated adjacent to the former Camelot Theme Park, which is located between Charnock Richard and Eccleston, close to the M6 motorway and just 10 miles from Preston.
Lavender Hotels who owned the hotel for 11 years were advised by Lambert Smith Hampton (LSH).
Martin Davis, Director of the firm’s specialist Hotel and Leisure team commented:
“We continue to see demand for well located, quality regional hotel assets from both national and overseas buyers. Given the downward pressure on the pound, and current stock market woes, hotel assets provide a great hedge as an alternative investment. We expect to see this trend continue.”
Edward Dry, Director of GC Capital commented:
“We are delighted to have acquired the substantial Park Hall Hotel which is the first of a number of planned acquisitions that we intend to make in the hotel sector in the near future.”
“It has been a pleasure to deal with the Lavender Group, we look forward to working with the team at Park Hall to continue to grow and build on the existing established business.”
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