Michels Ventures acquires Lea Marston and The Abbey hotels off guide price of £23m

Abbey HotelAbbey Hotel

Michels Ventures, the fund headed up by Sir David Michels, has purchased the Lea Marston Hotel and The Abbey Hotel for an undisclosed sum off a guide price of £23m.

The two properties have been acquired from the Blake family (RSM Leisure Limited), who are now retiring following 25 years of ownership.

The Lea Marston Hotel in North Warwickshire and The Abbey Hotel, Worcestershire are home to a total of 216 bedrooms (117 and 99 respectively) and will now be managed by Michels & Taylor.

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The properties also benefit from significant meeting space, leisure facilities as well as three golf courses, including the Championship standard Abbey Golf Course.

The purchase follows Michels Ventures first acquisition of the Cheltenham Park Hotel in 2015.

Gavin Wright, director, JLL’s Hotels & Hospitality team said: “This was an exceptional opportunity to acquire a portfolio of award winning four-star purpose-built hotels in central England.

“Prime locations combined with the hotels established leisure, conference, wedding and banqueting business proved hugely attractive to investors and as a result interest levels were very high. The interest is reflective of the current significant demand from both domestic and overseas buyers seeking good quality regional hotels.”

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