Avisford Park sold to Crest Hotels off £9m guide price

Avisford Park has been acquired by Crest Hotels, a privately owned and managed hotel group, after it was brought to market off a guide price of £8.95m. The hotel occupies a site measuring approximately 60 acres and features 140 en-suite bedrooms, 15 meeting/function rooms, a bar, restaurant and 270 car parking spaces. There are also extensive health and fitness facilities available, including a fully equipped gym, squash court, sauna and steam room, indoor and outdoor swimming pools, tennis courts and a golf course. The hotel is located near to the south coast, just north of the village of Walberton and three miles west of Arundel in West Sussex. It is also situated just south of the A27, providing easy road access to Chichester, Portsmouth and Brighton. The hotel also has access to London via the A283, as well as by train from both Arundel and Barnham train stations. The owners of Crest Hotels said: “We are delighted and proud to be the new owners of the Avisford Park hotel. As a group, we have now strategically acquired 8 hotels to date and the addition of Avisford Park really does bolster our portfolio to attract both leisure and business guests alike. “Its reputation as an iconic hotel is something we will be building on, further consolidating its position within the community and beyond whilst supporting the economics and tourism of the County.” They added: “As owners, we like to fully embrace the region, people and businesses in which we operate and we look forward to working with the team in situ, backed by our team of experts in the group, to really elevate the business to the next level; with quality of customer experience and facilities we pride ourselves on delivering.” Henry Jackson, head of Hotel Agency at Knight Frank, who handled the sale, said: “The Knight Frank hotels team are delighted to conclude the final sale within this hotel portfolio. Crest has great plans for Avisford Park and I look forward to seeing how the business evolves. “We are instructed on 63 regional hotel sales, with an average lot size of £12m which provides us with a competitive edge in identifying the most active capital looking to acquire hotels in the market. We expect increased competition from investors for hotels as we move into 2023.”