De Vere Grand Harbour hotel in Southampton sold to unnamed buyer

18 February 2013 by
De Vere Grand Harbour hotel in Southampton sold to unnamed buyer

The four-star, 173-bedroom De Vere Grand Harbour hotel in Southampton has been sold to an unnamed private buyer, who intends to carry out a multimillion-pound renovation of the waterfront property.

The disposal of the property by the De Vere Group is the latest step in the company's strategy to sell its non-core hotels and concentrate on the development of its golf resort properties.

Last year the group sold three hotels: the 140-bedroom Royal Bath in Bournemouth and the 192-bedroom De Vere Daresbury Park in Warrington, to Britannia Hotels for around £20m, and the 119-bedroom University Arms, Cambridge, to real estate investor Melford Capital Partners.

Craig Millward, director of CBRE Hotels, which negotiated the sale, said "Southampton is regarded as the cruise capital of Northern Europe with over four million visitors a year. It is seeing rapid annual growth and a fifth terminal is planned. The landmark Grand Harbour hHotel is ideally positioned on the waterfront to take advantage of this increase in demand and represents a first class investment."

The new buyer will operate the hotel under the Grand Harbour name, whilst considering whether to re-brand the property.

Originally opened in 1994, the Grand Harbour offers the largest hotel conference facilities in Southampton with a capacity for up to 500 guests in its largest room. It has two restaurants: Number 5 and Allertons, a bar, swimming pool, spa and leisure centre.

De Vere looks to create golf resort division >>

De Vere sells two hotels to fund growth of Village and Venues brands >>

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 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.

close

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