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A major hotel in Derby, UK has been sold to a Sri Lankan company, Derbyshire Live reported.
The Grade II-listed Cathedral Quarter Hotel in St Mary's Gate has been bought by Rashmi Dedigama and Peter Karan of Lavendish Leisure, a subsidiary of the Dedigama Group, for an undisclosed amount
The city centre hotel, where the late Queen Elizabeth II dined in 2010, which earned the head chef her personal thanks, has 38 individually designed ensuite bedrooms. It is a Victorian property that previously served as a police station and also as council headquarters.
In 2008, the previous owners, The Finesse Collection, purchased the property and converted it into a boutique hotel. The property still retains its period features, including Victorian mosaic floors, stained-glass windows and a grand central staircase.
This is the second UK hotel purchased by Lavendish Leisure, which has purchased eight hotels since 2005, with the parent company based in Sri Lanka. Rashmi Dedigama said:“We're thrilled to be taking on this stunning period hotel which marks our second acquisition in the UK. We look forward to capitalising on the existing reputation of the hotel whilst putting our own stamp on it.”
The Dedigama Group also specialises in financial services, jewellery, gem and jewel exports, real estate and plantations. In addition to the bedrooms, the hotel has a cocktail bar, Bogart's, and a British restaurant called Opulence.
Josh Sullivan, associate director of Colliers' Hotels Agency team, who handled the sale, said:“The hotel was sold in a confidential fashion and yet generated substantial interest resulting in multiple offers.
“The hotel presented exceptional value given its size, location and potential to trade competitively within its market. The buyer has ambitious plans for the business and we look forward to seeing it flourish. This transaction further underpins the continued demand for sensibly priced, well-located regional hotel opportunities with the ability to add value.” ( Derbyshire Live)
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