The 147-bed Goyt Valley hotel, restaurant, nightclub and conference centre has been acquired by Bangladesh businessman Golam Sarwar, who is planning a £1m refurbishment of the site.
Sarwar, who owns the five-star Hotel Srina in Dhaka, said he was planning to develop a new hotel group through a rolling acquisition process over the next five years.
“There is huge potential to redevelop and return it to its former status as a premier venue,” said Sarwar.
“Our immediate plans include refurbishing the bedrooms, the nightclub, and the central lounge and reception to create a meeting hub and a unique space for all day dining. Then in 2016 we will introduce leisure and spa facilities.”
Having originally opened in 1812, Bredbury Hall went into administration in March 2014 and has continued to trade during this period.
The sale has secured the jobs of all 250 staff.
Foreign investors target regional market
Hotel management specialists Onecall Hospitality have been appointed to manage the complex on a three-year rolling contract.
Mark Chambers, director of Onecall, said the acquisition was part of a trend of growing interest from overseas investors in the regional hospitality market.
“Many are keen to invest in the UK but feel London is overpriced and areas like the North offer better value and potential returns," he said.
"This is the third acquisition we have advised on this year and we have other investors seeking properties in key locations from Birmingham to Edinburgh."