Acting on behalf of Joint Administrators David Matthews and Nigel Morrison of Grant Thornton UK LLP, Christie + Co has sold the hotel & conference centre venue — The Liddington near Swindon, to PGL, the outdoor education centre business, for an undisclosed sum, close to the £10 million guide price.
The purpose-built, 192-bedroom hotel & conference centre, which is located close to the M4 and set in about 150 acres, includes 45 meeting/conference rooms and a restaurant. Also within the grounds is a former country house with 6 additional bedrooms, gymnasium and sports pavilion.
Built in 1991 as a dedicated residential training centre, the property is located just 4 miles from Swindon and within the Thames Valley.
PGL, which was acquired by Holidaybreak for £100 million two years ago, currently operates 18 centres in the UK, eight in France and one in Spain. The Liddington will become its latest centre in the UK when it opens as the PGL Liddington next year.
Simon Stevens, Director at Christie + Co, said: “The Liddington generated significant interest from a wide range of parties, with over 12 offers received, seven of which were cash, at or around the asking price sought. This a further example that despite the current challenging conditions buyers still interested in well-located, sensibly priced assets in the hotel sector.”