The Administrators have operated the 29 bedroom hotel following their appointment on 18 October 2013, whilst a buyer was sought for the business and assets. Derek Parnaby Cyclones International Limited is a locally-based engineering business, wholly owned and managed by Adrian Parnaby and his family. Adrian’s father, Derek Parnaby, previously owned the property as a private dwelling between 1980 and 1997. The sale has ensured that the jobs of all 40 employees at the venue have been saved.
Peter Bean, Director of Hotels at Colliers International, said, “We sought freehold offers around £1.25m for this lovely three-star country house hotel which dates back to 1891. The historic property with its attractive bedroom, restaurant, conference and banqueting facilities and reputation as a successful wedding venue appealed greatly to buyers, and the fact that it also came with its own herd of deer was another great USP.”
Adrian Parnaby, said: “My family and I are proud to take over the ownership of this historic property and look forward to working closely with existing management to develop the hotel and grounds in the future. We are pleased to be able to maintain the existing staff, and fully intend to honour all existing bookings.”
Joint administrator, Andrew Haslam of Begbies Traynor, commented: “This is great news for customers, staff and creditors of the business. With its beautiful location and excellent reputation, we were confident from the start that this popular venue would be snapped up very quickly. Our aim was to ensure there was as little disruption as possible during the marketing period in order to preserve the value of the business.
“Having received interest from more than 30 potential purchasers, Derek Parnaby Cyclones International Limited was able to provide the best return for creditors as well as offering the hotel, its staff and customers, a brighter future.”