Jeremy and Vivien Cassel have sold The Grange Hotel in York after more than 30 years of ownership.
Christie + Co completed on the sale of the 41-bedroom hotel this month to private buyers, with approximately 12 weeks from agreeing and signing terms to the sale.
The couple previously owned Hotel Felix in Cambridge before selling the business in 2018 and will now go onto ‘their next venture’.
The Grange Hotel has been extended by the Cassels over the year, in-keeping with the building’s heritage, and also comprises 2 AA Rosettes The Ivy Brasserie, set in the hotel cellars serving a fine dining menu with a ‘classic French twist’.
Christie & Co managed the sale process through the central hotels team, in collaboration with the local team based in the Midlands, to optimise its UK network of buyers.
Jeremy Jones, head of hotel brokerage at Christie & Co comments, “Having sold Hotel Felix, Cambridge for Jeremy and Vivien in 2018, we have always kept in touch with their long-term plans for their second property, The Grange Hotel. When we got a hint that they were ready to sell to the right “custodian” we immediately made contact with the buyers; and so it came to pass, with a sale approximately 12 weeks from agreeing and signing terms to the sale.
“More broadly, this is evidence of the strong market for this quality of business in the right location. There is no shortage of funded buyers, but the opportunities are limited, and sellers need to be teased out! We wish the buyers all the very best and particularly wish Jeremy and Vivien all the best with their next venture.”