Less than two months after its closure, the south London estate, encompassing the Birch Selsdon hotel, has been listed for sale.
Savills has been selected to market the 198-acre Selsdon Park Estate in South Croydon on behalf of administrators Moorfields Advisory Ltd.
Launched in Croydon last spring under the leadership of Managing Director Ayo Akinsete, Birch Selsdon, featuring 181 rooms, introduced two restaurants overseen by Chef Lee Westcott.
Unfortunately, the hotel faced closure and entered administration after just six months, attributed to 'cash constraints,' as stated by Moorfields.
With a total investment of £15.3 million over a span of two years, the property featured a range of amenities, including three bars, six meeting and events rooms, a coworking space, gym, outdoor lido, and tennis court.
Before its transformation, the site operated as the De Vere Selsdon Estate. In 2022, it was taken over as part of a joint venture between Birch Hospitality and real estate investment firm Aprirose.
The Birch Hospitality and Aprirose partnership also included the Birch Cheshunt hotel in Hertfordshire, situated on a 55-acre estate, which opened in 2020. Unfortunately, both the Birch Cheshunt and its sister site in Selsdon closed and entered administration in the same week last November.
Savills has been tasked with advising on the sale of the long leasehold interest in Birch Selsdon and a portion of the freehold interest in the estate. No guide price has been specified for the disposal.
Phoenix Chow, associate director, Hotel Capital Markets at Savills, said: 'The Selsdon Park Estate offers a unique opportunity to acquire a prominent former lifestyle hotel. The hotel has undergone substantial improvements over the last two years and there remains several value-enhancing initiatives in place to improve top-line performance and Net Operating Income (NOI).
'We anticipate strong interest from the market for this opportunity, appealing to a diverse range of capital sources and accommodating various business plans and asset preferences.'
In December, Savills listed Theobalds Park Estate, which houses the Birch Cheshunt hotel, for sale on the market.