Dumbleton Hall in the Cotswolds has been sold to a US-based buyer off a guide price of £6m.
The 38-bedroom Grade-II listed manor house, in 16 acres of parkland, has been on the market with Colliers since November 2019 and the sale attracted significant national and international interest with over 10 formal offers being submitted.
The former manor house has a history dating back to 1534, and had been brought to the market for the first time in over 60 years by Colliers acting as sole agent on behalf of the owner, POFR (Post Office Fellowship of Remembrance).
Dumbleton Hall is now owned by Dumbleton Hall Hotel Property Company Limited, a newly-incorporated company, which is controlled by Paul Vezolles, president of Chatham Park Development L.L.C, Charlotte, North Carolina, in the United States.
Julian Troup, head of UK Hotels Agency at Colliers, said: “Dumbleton Hall is the most significant single asset hotel opportunity to become available in the Cotswolds for a generation, and this sale during an elevated period of uncertainty brought about by the effects of COVID-19 shows how high quality hotel assets will continue to appeal to the market.
“The fact that the successful bidder is an overseas buyer highlights a trend we have noted among the hotels we are marketing, and underlines how international investors can see the enormous potential available in premium UK hotels which are already established businesses but also have potential for significant further growth
“In the case of Dumbleton Hall, the buyer is based in the US and had been looking for a suitable opportunity for a good deal of time.”
Brunt adds: “Current trading performance is good, but there is a very considerable opportunity to reposition the hotel and trade at much higher levels. This, in part, is reflected in the annual room occupancy results of 76 per cent, while sales in the last financial year were just under £2 million (net).
The original Dumbleton Hall can be traced back to 1534, as the home of the Cocks family for over 200 years.
It fell into disrepair after the death of Sir Richard Cocks in the late 18th century, and was eventually demolished and then rebuilt in the mid-1800s using Cotswold stone as a classic country house for the Eyres family, who hosted visitors including Sir John Betjeman and the Mitford sisters.
In 1959, it was acquired for hotel use by POFR (Post Office Fellowship of Remembrance).