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York hotels sold after business empire collapse

August 27th, 2010 by admin

Two hotels in the portfolio of flamboyant businessman, David Hattersley, have been successfully sold in the wake of the collapse of his property empire last year.

Guy Fawkes and Marmadukes Hotel, both in York, have been sold for an undisclosed sum to one unidentified buyer. The sale was carried out by Colliers International, who had been enlisted for the task by joint administrators, Phil Pierce and Andrew Sheridan, of Baker Tilly Restructuring and Recovery.

The two hotels were among a cache of businesses that went into administration last year, leaving Mr Hattersley with a bank debt of at least £4 million.

Speaking on the sale, the director of Colliers International in Leeds, Peter Bean said, "[The hotels] 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."

He added, "The whole process from first viewings to completion of the sales took about five months."

Marmadukes Hotel, in St Peter’s Grove, York, has a restaurant, lounges, meeting room and 20 bedrooms. Guy Fawkes, which is located in a prime spot opposite York Minster, and has 13 bedrooms, a bar and restaurant. Marmadukes.

Hattersley spent £20m in less than three years building an impressive property portfolio throughout York, but declared bankruptcy in October after his de Bretton Hospitality Group and property group, D & SJ Hattersley Properties, collapsed.

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