Cheltenham's Hotel in the Park bought by fashion entrepreneur

16 August 2013 by
Cheltenham's Hotel in the Park bought by fashion entrepreneur

The Hotel in the Park in Cheltenham has been bought by fashion entrepreneur Julian Dunkerton.

The Superdry founder bought the 11 bedroom hotel, which had been in administration since June, off a guide price of £2.6m.

It was listed on the market by Colliers International and bought by Dunkerton Properties, owned by the Dunkerton.

Joint administrator Benjamin Wiles told This is Gloucestershire: "We have traded the business as a going concern for some months now while we sought a buyer for the business as a whole.

"However, the hotel has been trading at a loss which is no longer viable. Therefore, in order to cease the losses, we have accepted an offer for a property purchase of the listed building.

"The new owner intends to refurbish the building and re-open in the coming months as a different type of hotel and restaurant offering, in line with their growing business in the local area.

"Regrettably, one outcome of this sale is that the 10 members of staff at the hotel have been made redundant. Although the loss of jobs was not the preferred outcome, the trading losses could not be sustained and accepting the offer for the property was, in our opinion, in the best interests of creditors as a whole."

Marriott in talks to sell Edition London to Abu Dhabi Investment Authority >>

Britannia Hotels buys fifth property in Bournemouth >>

The Caterer Breakfast Briefing Email

Start the working day with The Caterer’s free breakfast briefing email

Sign Up and manage your preferences below

Check mark icon
Thank you

You have successfully signed up for the Caterer Breakfast Briefing Email and will hear from us soon!

Jacobs Media Group is honoured to be the recipient of the 2020 Queen's Award for Enterprise.

The highest official awards for UK businesses since being established by royal warrant in 1965. Read more.


Ad Blocker detected

We have noticed you are using an adblocker and – although we support freedom of choice – we would like to ask you to enable ads on our site. They are an important revenue source which supports free access of our website's content, especially during the COVID-19 crisis.

trade tracker pixel tracking