This 41-bedroom hotel has been overseen by Jeremy and Vivien Cassel for over 30 years, and is “well positioned” within the historic city, just 400 yards from the city centre.
The site is also within walking distance of The Minster and other and historic buildings, as well as museums, theatres, gardens and an array of cafes, bars, pubs, and restaurants.
The hotel has been extended over the years, in keeping with the building’s heritage. The award-winning restaurant, The Ivy Brasserie, which is set in the hotel cellars, has received Rosettes and serves a fine dining menu “with a classic French twist”.
Jeremy Jones, head of Hotel Brokerage at Christie and Co, which managed the sale process, said: “Having sold Hotel Felix, Cambridge for Jeremy and Vivien in 2018, we have always kept in touch with their long-term plans for their second property, The Grange Hotel.
“When we got a hint that they were ready to sell to the right “custodian” we immediately made contact with the buyers; and so it came to pass, with a sale approximately 12 weeks from agreeing and signing terms to the sale.”
He added: “More broadly, this is evidence of the strong market for this quality of business in the right location. There is no shortage of funded buyers, but the opportunities are limited, and sellers need to be teased out! We wish the buyers all the very best and particularly wish Jeremy and Vivien all the best with their next venture.”
David Lee, Christie and Co’s Hospitality regional director based in the Leeds office added: “The sale of The Grange Hotel is clear evidence that the market for quality hotels in the best locations in Yorkshire remains strong. Cash buyers recognise that they need to meet the owners aspirations on price if they are to secure one of these sought after businesses”.