Christie & Co has brought to market Grasmere House Hotel in Wiltshire with a guide price of almost £3m, as its owners of the last 37 years look to move on.
The three-star hotel in Salisbury, described as an ‘idyllic hotel and wedding venue’, is up for sale for £2.75m and comprises 38 bedrooms, a conservatory bar and one AA Rosette restaurant.
It has been privately owned by the same family for the last 37 years, headed up by manager Dale Naug and this is the first time the business has been brought to market. Grasmere House Hotel currently trades under the Great National Hotels & Resorts Consortium.
The family comment: “We bought and developed this property 37 years ago and have thoroughly enjoyed every minute of working in this outstandingly beautiful setting. The mix of business has brought us significant repeat patronage from both corporate and leisure customers who have supported us throughout our tenure. There is enormous potential in the business going forward and I am looking forward to handing over the reins to a new owner for them to take the business to the next level.”
The hotel is offered for sale either free and clear of Great National Hotels & Resorts, or under the current agreement.
Originally built in 1896 as a private house, the Grasmere House Hotel has benefited from extensive wedding business over recent years and there is scope to further develop this revenue stream.
There is also potential for alternative uses for the site, including residential development in the front car park, subject to obtaining the necessary planning permissions.
Ed Bellfield, regional director at Christie & Co is handling the sale and comments, “The Grasmere House Hotel has an established reputation, appealing to both leisure and corporate guests due to its proximity to Southampton, Winchester and the New Forest National Park. There is significant scope for an experienced owner/operator to invest in the site and benefit from its exceptionally unique location.
“We expect the property to appeal to a wide range of buyers including those looking to purchase a single asset as well as those looking to expand their current portfolio. We also anticipate high levels of interest from both national and international investors attracted to the UK market.”