Hotel company The De Vere Group, has officially sold the 119-bedroom University Arms Hotel in Cambridge to Melford Capital for an undisclosed sum. Completion of the sale is expected to happen by the end of this month.
The sale comes as De Vere continues to dispose of hotels that do not fit in with what it aims to be- the UK’s leading golf resort operator. Earlier this year, De Vere was awarded the management contract at The Belfry, the iconic golf resort in the West Midlands.
There are however, two hotels left in the company’s hotels division that do not comprise of golfing facilities. These include the Grand Harbour in Southampton, which is currently subject of sale negotiations, and then the Grand Brighton, which is currently undergoing a £4.3million investment programme but once completed in 2013 will be put on the market.
Following these disposals, the properties in the Hotels division comprise Cameron House, Loch Lomond, Mottram Hall, Prestbury, Oulton Hall, Leeds, Dunston Hall, Norwich, Slaley Hall, Newcastle and Belton Woods, Grantham, as well as management contracts at The Belfry and at Carden Park.