The Elvetham, a country house hotel in Hartley Wintney, Hampshire, has been sold to Jastar Capital, a hotels, real estate and private equity family-owned business.
The 13th century country house hotel estate includes 72 bedrooms, 21 meeting spaces and ten separate buildings with over 79,000 square feet of space. This is all set within 35 acres of landscaped grounds.
Jay Matharu, property director at Jastar Capital, said, 'We are pleased to announce the addition of The Elvetham to the Jastar Capital portfolio. We hope to build on the well-loved foundation that has been safeguarded by the Dare family for almost two decades.
'The Elvetham Hotel will receive a significant investment programme, including refurbishment of bedrooms, bathrooms, common areas, the formation of a new restaurant and the construction of a marketing leading spa.
'This is the first of several planned acquisitions and developments. Jastar Capital has ambitions plans to grow its presence in the hospitality sector across the UK.'
Jastar was set up set up by Jay Matharu alongside his siblings Taran and Sindri, following a demerger at Grange Hotels.
Jastar Capital acquired the hotel from Richmond & Hampshire. Greville Dare, managing director at Richmond & Hampshire, said, 'After 18 years of ownership we are very proud of what we have been able to achieve with The Elvetham as a business. It is truly a magnificent asset in a fabulous location.
'I am personally delighted for The Elvetham, and for the staff, that The Elvetham has been acquired by another privately owned 'family' business like ourselves.
'The Matharu's are highly experienced, professional and successful hoteliers with great vision and resources which will enable them to further un-lock the Elvetham's exciting potential. CBRE acted as real estate advisors throughout the process to a successful conclusion.'