A London-based developer has acquired Headley Park Hotel in Hampshire, which has been closed since 2015, for an undisclosed sum off the asking price of £2.5m.
Landhold Developments has purchased the property from the Lithuanian Sports and Social Club and will now go about transforming the property.
The 24-bed hotel dates back to the late 1800s, starting life as a private house before being converted to a school around World War two.
In the 1950s, the property was acquired by a Lithuanian community group and has since played host to weddings, festivals and training courses in recent years.
The hotel has various public areas and outbuildings, while the 40-acre grounds include extensive lawns, lakes and woodlands, presenting a number of potential development opportunities for new owners, Landhold Developments.
Paul Barrasford, director, hotels, Colliers International commented: “Closed hotels with their high underlying real estate value, scope to reopen and re-development angles generate a wide range of interest from a diverse selection of buyers. This was particularly true for the Headley Park Hotel where the spectrum of bidders mirrored the many historic and potential future uses of the property. It will be exciting to see how the new owner brings the property back life.”
Garry Simpson, Landhold Developments Ltd commented: “This acquisition represents an exciting and potentially challenging opportunity which we are very much looking forward to.”