Property adviser Knight Frank has completed the sale of the Barnsdale Hall Hotel in Rutland, England, to Dineshbhai and Savitaben Patel on behalf of trustees, selling off a guide price of £10 million.
The lakeside resort was reportedly constructed in 1890 as the family hunting lodge of the 6th Earl Fitzwilliam. Barnsdale Hall was later acquired by Derek Penman, chairman of the Penman Group, before being redeveloped as a 55-acre lakeside resort with 66 guestrooms, 49 timeshare lodges and apartments, 11 function suites, four bars and restaurants, a swimming pool, squash and tennis courts, a gym and a spa.
“Although challenging times, it has been a pleasure working with both buyers and sellers to overcome unprecedented and uncertain obstacles to ensure the transaction continued on course,” said Matthew Smith, partner at Knight Frank. “Having been in the same family ownership for the past 35 years, this now represents an exciting new chapter for the business under the ownership of the Patel family.”
“We are delighted to be working with the exceptional management team who have shown remarkable resilience and determination over the past few months, which have been a challenging and difficult time for everyone working in the hospitality industry,” said Dineshbhai Patel.