Depho Estates purchased the hotel from London-based real estate investment company Aprirose and will invest a multi-million pound sum post-acquisition to further enhance and upgrade Aldwark Manor’s rooms and facilities.
A team from Yorkshire law firm Gordons led by corporate partner James Fawcett, and including commercial property partner, Simon Mydlowski, and employment partner, Philip Paget, advised Depho Estates on the deal.
Aldwark Manor is set in 120 acres of countryside and can accommodate more than 100 residential guests. As well as offering conference and banqueting facilities for up to 240 people, the hotel has an 18-hole golf course and spa, plus an award-winning AA Rosette brasserie. Aldwark Manor is located eight miles from the A1 (M), close to the village of Aldwark.
Commenting on the acquisition, Depho Estates director, Deborah Hoban, said:
Aldwark Manor has been well run by Aprirose, so we have acquired a thriving business with a great reputation that will fit well within our current property portfolio.
We want to make Aldwark Manor an even more desirable place to stay or visit. In order to achieve that objective, we have committed a multi-million pound budget which will enable us to upgrade and refurbish all aspects of the hotel and its grounds.
We were expertly advised throughout the acquisition by James and his team at Gordons. They provided clear, practical advice that allowed us to make decisions quickly and secure positive commercial outcomes. We look forward to continuing to work with Gordons as we implement our plans for Aldwark Manor and the further expansion of Depho Estates.
The hotel has 54 individually designed bedrooms, split between the traditional manor house and a contemporary new wing. It is also a very popular wedding venue, benefiting from views of the Vale of York and the River Ure running through the grounds.
Gordons partner, James Fawcett, added:
Depho Estates has ambitious plans for Aldwark Manor, and a highly capable team that will make them happen.
This was a great deal to work on, and we are now focused on further supporting the company as it continues to expand its operations throughout the region.
Aprirose acquired the QHotel portfolio in September 2017 for £525m. The real estate investment company was jointly advised on its sale of Aldwark Manor by property agents Savills and business property consultancy Christie & Co.
Gordons has offices in Leeds and Bradford and employs 200 people. The firm’s clients include retailers AO, B&M, Iceland Foods, Morrisons, Ocado and Wren Kitchens as well as construction and high-performance materials manufacturer Saint Gobain and international brewers Molson Coors.