Real estate investment company Aprirose has sold the four-AA-starred Aldwark Manor to family-run Leeds-based property investment company Depho Estates for an undisclosed sum.
Depho has committed to invest a multimillion-pound sum post-acquisition to further enhance and upgrade Aldwark Manor's rooms and facilities.
The hotel has 54 individually designed bedrooms, split between the traditional manor house and a contemporary new wing. The property is set in 120 acres of countryside and as well as offering conference and banqueting facilities for up to 240 people, has an 18-hole golf course and spa, plus an AA Rosette brasserie.
Depho Estates director, Deborah Hoban, said: "Aldwark Manor has been well run by Aprirose, so we have acquired a thriving business with a great reputation that will fit well within our current property portfolio.
"We want to make Aldwark Manor an even more desirable place to stay or visit. In order to achieve that objective, we have committed a multimillion-pound budget which will enable us to upgrade and refurbish all aspects of the hotel and its grounds."
Aprirose owns the QHotel portfolio, which it acquired in September 2017 for £525m.
Aprirose was jointly advised on its sale of Aldwark Manor by property agents Savills and business property consultancy Christie & Co. A team from Yorkshire law firm Gordons led by corporate partner James Fawcett, and including commercial property partner, Simon Mydlowski, and employment partner, Philip Paget, advised Depho Estates on the deal.