News > Business

Investor buys Llangollen Hotels' The Wild Pheasant out of administration

By Emma Eversham , 15-Aug-2012
Last updated on 15-Aug-2012 at 13:38 GMT

Related topics: Business, Venues, People, Hotels

Llangollen Hotels' The Wild Pheasant hotel in Llangollen, North Wales, has been bought out of administration by London-based investor Asif Siddiqui. 

The Wild Pheasant hotel in Llangollen has been bought out of administration just over a year after its parent company collapsed

The Wild Pheasant hotel in Llangollen has been bought out of administration just over a year after its parent company collapsed

Siddiqui, who bought the hotel more than a year after it was placed into administration by KPMG, intends to employ a management company to run the property on his behalf, according to property agents Colliers International. 

Neil Thomson, associate director in the hotels department at the Manchester office of Colliers International, said the hotel had continued to trade profitably under a management company instructed by administrators

“The Wild Pheasant Hotel has firmly established itself as one of the area’s leading commercial hotel venues popular with corporate, tourist and leisure markets," he said. 

"It clearly demonstrates the strength of the market place for good quality, profitable hotel assets and despite popular belief, highlights the banks’ continued appetite to lend within the hospitality sector.” 

Administration

The 46-bedroomed Wild Pheasant was one of four hotels owned by Stephanie and David Booth's firm Global Investments Company before it collapsed into administration on 8 July 2011 after its debts ran out of control

Its sale follows those of the nine-bedroom Bodidris Hall near Wrexham  to private owners last year and The Chainbridge, also in Llangollen, to Surrey businessman Seamus O'Keefe two months ago for £500k.

Following the sale of the 36-bedroom hotel The Chainbridge, which takes its name from its close proximity to Llangollen's famous chain bridge, O'Keefe said he was planning to make improvements to the property. 

“He plans to invest and develop the business over the coming months and transform this lovely riverside site into a top destination hotel and restaurant," said Thomson. 

The final freehold hotel which went into administration - Bryn Howell in Llangollen - remains trading under administrators and is yet to find a new owner. 

BigHighlights

Michael Warren on heading up Harbour Hotels, his Hotel du Vin experience and why no two days are the same in hospitality
Small talk

Michael Warren on heading up Harbour Hotels, his Hotel du Vin experience and why no two days are the same in hospitality

Michael Warren spent 17 years at Hotel du Vin and Malmaison, helping with the development and expansion...

People on the Move in Hospitality: August 2014

People on the Move in Hospitality: August 2014

We've rounded up some of the latest movers and shakers in the hospitality industry, with the past...

60-Second Skill with Nigel Haworth: finely chopped onion

60-Second Skill with Nigel Haworth: finely chopped onion

Being able to chop finely is an essential skill if you want to make sauces or stocks...

Dish Deconstucted: José Pizarro's roasted monkfish with Serrano ham, black olives and thyme

Dish Deconstucted: José Pizarro's roasted monkfish with Serrano ham, black olives and thyme

At the recent Estrella Damm Gastronomy Congress, chef and restaurateur José Pizarro revealed the method behind a dish full...

Infographic: How to handle angry customers

Infographic: How to handle angry customers

Dealing with angry customers can be one of the most difficult, stressful and challenging parts of working...

Joanne Barratt: Pearls of Wisdom
Pearls of Wisdom

Joanne Barratt: Pearls of Wisdom

QHotels’ group operations manager talks about how important a strong team culture is in maintaining excellent standards...

Find us on Facebook

Digital Edition - Restaurant Magazine

Access to the Restaurant Magazine digital edition