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18 October 2016 | Hotels

Christie & Co brokers Nine Group acquisition of St Albans Noke Hotel

Specialist business property advisor Christie & Co has announced the sale of the Mercure St Albans Noke Hotel in Hertfordshire to Nine Group.

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Located in the cathedral city of St Albans, the Grade II Listed, 110-bedroom hotel, which also features conference suites/function rooms, leisure club and spa facility, has been purchased by Nine Group, owned by Vivek Chadha, who currently own 12 hotels across the UK.

Known for generations as “The Noke”, the hotel comprises 110 guest bedrooms and is exceptionally well located with a surrounding road network of the M1 (Junction 6), M25 (Junction 21A) and the A1(M). The hotel currently trades under the Mercure hotel brand and is a popular wedding and event venue for the local and regional area.
 
Vivek Chadha, Director of Nine Group, commented: “The Noke is a very strategic and long term purchase for our Group as we own multiple hotels in the area. We plan to spend close to £10m on refurbishing and development on this hotel to make it a one stop leisure and business destination. We will be increasing the number of rooms as well as improving the Leisure Club and Conference facilities.”

Alex Campbell, Director at Christie & Co said, “Given that the hotel has never been offered for sale before on an individual basis, it attracted a strong level of interest from potential buyers from a variety of backgrounds.
 
“Due to the competitive levels of interest we experienced, Christie & Co was able to conclude a very successful sale for the vendor.”
 
Pinsent Masons provided legal representation to the vendor.