Three De Vere hotels on the market for £60m

26 March 2019 by
Three De Vere hotels on the market for £60m

The American private investment firm is selling the freehold of the 185-bedroom Horwood Estate (pictured) in Milton Keynes; 247-bedroom Staverton Estate in Daventry, Northamptonshire; and 151-bedroom Cranage Estate, Cheshire, as part of its disposal of De Vere following the sale of its Principal hotels.

Christie & Co is marketing the properties to be purchased individually or as a group, all of which are available free of brand and management.

Jeremy Jones, head of brokerage - hotels at Christie & Co said: "We are delighted to present to the market such attractive, high yielding hotels. The scale of each of these properties leaves ample opportunity for new owners to build upon the already successful businesses and we anticipate high levels of interest from a range of buyers and investors."

Following the sale of Principal last year to Covivio, with InterContinental Hotels Group as the operating company, along with two De Vere properties, Starwood Capital was left with 13 De Vere hotels.

Starwood consolidated the hotels it brought from Principal Hayley, Four Pillars, De Vere and the Townhouse Collection into two brands: Principal and De Vere under the Principal Hotel Company, injecting £100m across the De Vere portfolio to reposition the properties as country house hotels.

Principal hotels to split between three brands following sale by Starwood Capital >>

How the Principal Hotel Company has reimagined the De Vere brand >>

De Vere Wokefield Estate unveils £20m transformation >>

De Vere Selsdon Estate unveils results of £5m refurb >>

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