The historic Kilworth House Hotel and Theatre has been put up for sale with a guide price of £11m, as this ‘highly profitable’ business looks for a new owner.
The Grade-II listed hotel, in rural Leicestershire, was acquired by current owners Richard and Celia Mackay in 1999 who restored the building into a hotel and launched to market in 2003.
They added the open-air theatre in 2007.
Now Kilworth House comprises 44 bedrooms, plus two restaurants, four private dining rooms and eight conference rooms.
The open-air theatre, with a capacity of 550 seats, is set in a wooded glade beside a lake.
Additionally, the hotel benefits from a Victorian Orangery that overlooks the parkland and is popular for weddings.
As part of a statement issued from Kilworth House behalf of Celia and Richard and released to Leicester Mercury, the owners said they approached an agent around 18 months ago to investigate the sale, but were ‘keen to find the right buyer’ for the business.
The statement added: “Kilworth House Hotel and Theatre is trading very well and we continue to invest substantially in the property in all areas of the business. Mr and Mrs Mackay will not sell unless they are completely confident that any new owner will continue to uphold the same quality standards and level of investment they have developed since they lovingly created the award winning hotel and theatre back in 2003.
“There is no requirement to sell as this is a retirement plan and the priority of the owners is to secure the future of the business with the right buyer. We are continuing to build the business and have recently finalised contracts for the 2020 theatre season as well as all other ongoing events into the future.”
Tom Cunningham, director at Savills Manchester, comments: “Kilworth House Hotel offers an exceptionally rare opportunity to acquire the freehold interest in a high quality period hotel, complete with theatre, dining and conference rooms situated in stunning grounds. This is the first time that this renowned hotel has come to market, so we’re expecting significant interest in this site. This highly profitable business is excellently positioned to continue its progression under new owners.”
The Italianate country house was built as a family home towards the end of the 19th century for John Entwisle, the High Sheriff of Leicestershire.
After the death of Mr Entwisle’s second wife in the 1960s, the house passed to the Snowdon family who turned it into several flats.
In 1999, Celia and Richard Mackay bought the house and restored it to its former glory.