Well-known North West Norfolk hotel sold to independent operator
Specialist business property adviser, Christie & Co, has announced the sale of Knights Hill Hotel & Spa, located on the outskirts of Kings Lynn.
Business. Built around You.
Your expert business property advisers
Directly fronting onto the busy A149, Knights Hill Hotel & Spa has been sold to a private individual hotel operator who, by acquiring this trading asset, is set to increase their portfolio of hotels in attractive tourist locations.
Knights Hill Hotel comprises 79 bedrooms and has been an icon of the local hotel scene in North West Norfolk for over 40 years, under the ownership of Howard Darking. The sale marks the end of Howard’s ownership of hotels in the area, having recently sold the Le Strange Arms Hotel, Hunstanton and Orton Hall Hotel & Spa, Peterborough.
The hotel, which is a renowned wedding, banqueting and conferencing venue, licensed for weddings, along with the popular Farmers Arms pub, was placed on the market and was very well-received with a number of enquiries and offers made. The sale completed within only eight weeks, testament to the seller, buyer and all professionals involved in the sale process.
Simon Jackaman, Director at Christie & Co who handled the sale, said, “It has been a delight to have been asked by Howard to handle the sale of this hotel, and I am so thrilled to have secured an excellent buyer with great credentials in operating hotels in areas like this. The hotel has a very bright future with the new owner already looking to invest and improve upon the already high reputation the hotel has. It has been acquired as a going concern and the new owner is looking forward to continuing to build on the excellent reputation that Knights Hill had under Howard’s ownership.”
Commenting on the sale and his 40 years of ownership, Howard Darking said, “The property has evolved over the years from a farmhouse and extensive range of derelict farm buildings to the busy four-star property that exists today. I and the whole management team who will continue to run the property are particularly glad that the new owner clearly wishes to continue the successful evolution of the hotel and shares the high standards that we have sought to deliver to our customers over the years.”
The hotel was sold freehold for an undisclosed amount, off a guide price of £7,950,000.
For further information on this press release, contact:
