Grade-I listed 18th century Georgian mansion Chicheley Hall has been sold to Pyrrho Investments Ltd off a guide price of £7m.
The hotel has been added to the company’s portfolio, which includes Broome Park in Canterbury, and will be managed by Countrywide Hotels.
Knight Frank completed on the sale, which received ‘substantial interest’ from new entrants, existing UK hoteliers as well as overseas buyers.
Paul Cummins, director Chicheley Hotel Ltd, commented: “We are very excited to add Chicheley Hall to our portfolio of hotels, in particular it is a great sister property to Broome Park, our hotel and wedding venue near Canterbury. We have appointed Countrywide Hotels to manage the hotel and intend to develop the business as the leading wedding venue and country house hotel in the area.”
The Grade-I listed mansion is located in a private estate with approximately 35,000 sq ft of accommodation and 75 acres of landscaped gardens, woodland, farmland and parkland including a lake.
Built between 1720 and 1724, the Hall has only been sold three times since its construction.
In recent years, Chicheley Hall has undergone a careful restoration and comprises 48 bedrooms, meeting rooms, dining rooms and a range of reception areas.
The property’s two Grade II-listed former stable blocks are connected to the main Hall and contain most of the bedrooms.
The former coach house has been converted to a conference centre and has two lecture halls, a meeting room as well as ancillary facilities.
Henry Jackson, head of hotel agency at Knight Frank, commented: “We are thrilled to have completed the sale of the historic and iconic Chicheley Hall, with both buyer and seller pleased with a successful outcome. There is a very limited supply of quality hotel opportunities in the market at present and the substantial interest we received in Chicheley Hall demonstrates this.
The sale was handled across a number of Knight Frank’s market-leading teams in conjunction with Emma Cleugh in the Institutional department and James Crawford from the Country House Department.