International investment company Zeltgelst Consulting has acquired the Hand Hotel in Llangollen, Wales.
The property was listed for sale through Graham + Sibbald last year and has now found a new owner who is expected to revitalise the establishment.
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With views overlooking the River Dee, the Hand Hotel has 58 bedrooms alongside various amenities that include a public bar, bistro-style restaurant, private dining options and conference facilities.
The transaction was completed with a guide asking price of £1.9m ($2.5m) as part of a share sale deal.
Globally recognised hotel operator Compass Hospitality will manage the business starting immediately.
With its rich history and importance to local culture, the Hand Hotel has long been an integral part of life in Llangollen. It stands as a testament to generations past and present within this vibrant community.
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By GlobalDataGraham + Sibbald hotel and leisure partner Martin Davis said: “It was great to work with our clients, Louise Holland and her colleagues, on the sale of the Hand Hotel. Having owned the hotel for 25 years, it was a big decision for Louise and her co-directors to sell this profitable business.
“However, the outcome is a testament to the continued demand for profitable, high-quality hospitality investments in the UK’s most scenic and vibrant locations.”
Graham + Sibbald employs over 250 individuals, including 27 partners across 21 offices throughout Scotland and England. This real estate service company provides more than 20 different services catering to diverse client needs.
