UK family firm Mercer Farming has acquired an historic Shropshire golf and country club comprising 200 acres of land, in a deal brokered by Knight Frank.
Financial details were not disclosed.
Patshull Park Hotel, Golf and Country Club dates back to 1754 and comprises 49 en-suite bedrooms, conference facilities for 200 delegates, a gym and spa, fishing lake and 18-hole golf course.
The Georgian property is situated in Pattingham, between Telford and Wolverhampton. It was converted into a golf and country club that has been operational since 1980, and also has the potential for alternative use, according to Knight Frank.
Robert Mercer, Mercer Farming and MD of Harlaston Packington and PFR, commented: 'Spread across 200 acres, Patshull Park is an historic and unique property situated in Shropshire. We are incredibly excited to have the opportunity to take it to the next stage of its development and journey.'
Henry Jackson, head of hotel agency andpartner at Knight Frank, commented: 'We are thrilled to announce the sale of the Patshull Park Hotel and pleased to provide both the buyer and seller with a successful outcome, especially given the exceptional circumstances we faced. We identified the buyer through a range of Knight Frank’s integrated service lines, which is vital as we seek to offer clients a diverse range of opportunities.
'In certain instances, we are now seeing hotels being sold for alternative use as land and buildings are potentially more valuable at the location than as their hotel function.
'We are also seeing increasing numbers of domestic investors like the Mercer family who are looking at alternative uses and diversifying their portfolios, and we expect this trend to continue as we navigate the ever-evolving hotel and leisure market.'
Knight Frank acted for Patshull Park Ltd.
