Global property adviser Knight Frank has completed the sale of Patshull Park Hotel, Golf and Country Club to local family business Mercer Farming, for an undisclosed sum.
The property, which dates back to 1754 and is situated in 200 acres of Shropshire countryside, comprises 49 en-suite bedrooms, conference facilities for 200 delegates, a gym and spa, fishing lake and 18-hole golf course.
Patshull Park Country Club Hotel is an historic Georgian property located in Pattingham, between Telford and Wolverhampton which was converted into a golf and country club that has been operational since 1980. Surrounded by National Trust landmark attractions, as well as a golf club and fishing lakes with a membership base of over 230, the hotel generates year-round tourism for the local area and has the potential for alternative use.
Henry Jackson, Head of Hotel Agency and Partner at Knight Frank, commented: “We are thrilled to announce the sale of the Patshull Park Hotel and pleased to provide both the buyer and seller with a successful outcome, especially given the exceptional circumstances we faced. We identified the buyer through a range of Knight Frank’s integrated service lines, which is vital as we seek to offer clients a diverse range of opportunities.
“In certain instances, we are now seeing hotels being sold for alternative use as land and buildings are potentially more valuable at the location than as their hotel function. We are also seeing increasing numbers of domestic investors like the Mercer family who are looking at alternative uses and diversifying their portfolios, and we expect this trend to continue as we navigate the ever-evolving hotel and leisure market.”
Robert Mercer, Mercer Farming and MD of Harlaston Packington and PFR, commented: “Spread across 200 acres, Patshull Park is an historic and unique property situated in Shropshire. We are incredibly excited to have the opportunity to take it to the next stage of its development and journey.”
Mercer Farming is a Staffordshire family business that distributes free range poultry and pork, and seeks to balance profitable farming in harmony with our environment; keeping sustainability at the forefront of its farming practices.
Source : Knight Frank