The Pinewood on Wilmslow sold to AG Hotels
The 89-bedroom Pinewood on Wilmslow hotel has been sold off a guide price of £5.5m to AG Hotels.
Located close to Manchester Airport, the property has been owned by the Alexander family since 2011 when it was acquired as a 58-bedroom property from Menzies Hotels off an asking price of £2.25m.
The hotel, which stands within 2.5-acre grounds, features the One Eighty restaurant, bar and lounge and function rooms including the Cheshire Suite with space for up to 140 guests. It operates under the Best Western Plus brand.
AG Hotels now owns 12 hotels across the UK, some of which are managed independently and some under brands such as Ibis, Comfort Inn and Oyo. It recently entered the London market with the acquisition of the 152-bedroom Clayton Crown hotel in Cricklewood for around £21m from Irish hotel operator Dalata.
Girish Grover, chief executive of AG Hotels, said: "We are delighted with our acquisition of the Pinewood on Wilmslow hotel and have exciting plans to invest in the future growth of its business."
The hotel was sold in a confidential off-market arrangement by real estate company Colliers.
Julian Troup, head of UK hotels agency at Colliers who brokered the deal, said: "The sale reflected continuing strong demand for quality hotel accommodation from both overseas and domestic buyers."
