A historic hotel in Shrewsbury has been acquired by a Thai investor, sold for an undisclosed sum in a deal brokered by Christie + Co.
The Lion Hotel in Shrewsbury has been sold to the FICO Corporation, a well established diversified Group from Bangkok, Thailand that has roots in manufacturing and textiles, as well as business arms in luxury retail trading, construction, commercial real estate and hotel development.
Fico currently owns 20 operating hotels, three commercial office buildings and five projects under development spanning across Thailand, Germany and UK.
The 16th century Grade-II listed Lion Hotel consists of 59 bedrooms, as well as a selection of function rooms including the Adam Ballroom.
It is reputed that Charles Darwin stayed at the hotel before setting off on HMS Beagle where he developed his theory on the origins of species.
Sanjay Singh, managing director of Fico Corporation added that “This acquisition is carefully planned diversification move designed to expand our portfolio of hotels to a dynamic UK market.
Gavin Wright, director at Christie + Co’s Birmingham office handled the sale. He comments: “We are delighted to have secured a sale with an investor who is keen to keep the Lion Hotel operational and refurbish the property. I am sure FICO will be able to bring a lot back to Lion Hotel and make it very successful. The sale of the hotel demonstrates there are a number of overseas investors with a keen appetite to acquire hotel assets in the UK.”