The Castle Hotel in Tamworth, Staffordshire, has been sold to a Kuwaiti investor for an undisclosed sum off an asking price of £2.1m.
The 40-bedroom boutique was sold to Mr Nair Ezzat, in a deal brokered by specialist property adviser Christie + Co.
The Grade-II listed hotel is a popular wedding venue, complete with two banqueting suites, a vodka bar, restaurant and nightclub.
Current owner Tim Wedgwood acquired the hotel through Christie + Co in 2005 and after a decade at the helm, he is moving onto pastures new.
Gavin Wright, Director at Christie + Co’s Birmingham office handled the sale. He comments: “The sale of Castle Hotel demonstrates a strong demand for well located and good-quality hotels which have seen ongoing investment in the asset.”
He adds: “Regional hotels performed strongly last year and this did not escape the notice of investors. A substantial pool of private equity capital and better availability of debt financing have put the fizz back into the UK regional hotel sector.”