Malaysian-owned Chartridge Venues has made its fifth UK acquisition with the purchase of a distressed hotel in Royal Wootton Bassett. It paid £1.8m for the landmark Marsh Farm Hotel.
The 48-bedroom property was listed by Savills in February after its owner Oyster Hotels went into administration. The real estate advisor was acting for restructuring and insolvency firm Moorfields Corporate Recovery.
Marsh Farm is surrounded by two acres of land and comprises of a Grade-II listed country house with modern extensions plus a restaurant, bar, beauty salon and extensive conference facilities. Chartridge’s four other properties are in Birmingham, Chartridge, Hitchin and Swindon.
“We are delighted to have acquired Marsh Farm,” commented Graham Cantillion, of Chartridge Venues. “The property will be a great addition to our existing portfolio and we believe that it will contribute significantly to the future growth of the business.”
His group’s latest addition — located two miles from Junction 16 of the M4 motorway and less than six from Swindon Railway Station — houses the recently refurbished Glasshouse Restaurant and is a popular wedding venue. The hotel has also become well known for its conference and corporate events.
Cantillion confirmed Chartridge Venues was actively seeking similar assets to add to the group’s leisure portfolio.
Gary Witham is hotels director at Savills. “We have seen significant demand from South East Asian buyers generally and especially from Malaysian investors looking for established, value for money hotel businesses in the UK,” he explained.
“We are pleased with the strong sale price achieved for Marsh Farm Hotel and the swift conclusion of this project.”
Source: Savills Press Release
