Sale of Guy Fawkes and Marmadukes Hotels, York
The Leeds office of Colliers International has negotiated the sale of Guy Fawkes and Marmadukes Hotels in York acting on behalf of Joint Administrators and Fixed Charge Receivers Phil Pierce and Andrew Sheridan of Baker Tilly Restructuring and Recovering LLP. Guy Fawkes is superbly situated opposite the Minster and is a tremendously characterful property with popular dining and bar areas and 13 good class individually designed letting bedrooms. Marmadukes is within easy walking distance of the Minster on St Peter’s Grove just off Bootham and is a beautifully appointed town house hotel with attractive bar, restaurant, lounges, meeting rooms and 20 letting bedrooms.
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“Guy Fawkes and Marmadukes created a high level of interest from buyers attracted by their high quality facilities and outstanding trading locations in this major tourist destination city which continues to perform well. The whole process from first viewings to completion of the sales took about 5 months. The deals were struck following competitive bidding which has left a number of strong underbidders seeking similar high quality acquisition opportunities.”
Phil Piece, Leeds-based Partner at Baker Tilly Restructuring and Recovery LLP, added:
"We are delighted to have achieved a sale of the business as a going concern. At a time when the hotels sector is facing significant challenges, the sale preserves both the business and many of the jobs along with it. “It is also another indicator of the optimism shown by particular segments of the UK hospitality industry - prime tourist locations being just one. Location, location, location was certainly a key factor to the sale and high levels of interest received in the business."
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