Global property advisors, Colliers International has completed the sale of the iconic Brooklands Hotel to an affiliate of Bestford Capital and Westmont Hospitality Group.The hotel is located on the site of the Brooklands racetrack in Weybridge, Surrey, the renowned birthplace of British motorsport and a historic centre for aviation development. Colliers International, acting on behalf of S M Rayment and A D Nygate of BDO LLP, Joint Administrators of the property holding and operating companies, agreed a sale of the hotel freehold and business for an undisclosed sum. The hotel was sold from a guiding price of Offers in Excess of £20 million.
Brooklands is one of Britain’s most famous racing heritage circuits and was the world’s first purpose built real motor racing track in 1907, the scene of the earliest motor racing in the country during the 1920s and 1930s. In addition to the hotel, it is now home to Mercedes-Benz World, Velocity (a new 100,000 sq. ft. office development) and numerous multinational corporate occupiers in the surrounding area.
Julian Troup, Head of UK Hotels Agency at Colliers International, said, “The hotel’s unique location at the world-famous birthplace of British motorsport generated interest from a number of domestic and overseas investors. These were driven by the hotel’s luxury appeal, superb trading performance and the area’s reputation as one of Home Counties’ chief business destinations.
The hotel comprises 120 en suite letting bedrooms and nine conference rooms with capacity of up to 220 persons, and the 1907 restaurant bar and grill. The business generates a net annual turnover of approximately £7.5 million.
