Acquisition by Lavendish Leisure marks group’s second hotel purchase in the UK
The Grade-II listed Cathedral Quarter Hotel in Derby has been sold to new owners by The Finesse Collection who transformed the property into a hotel in 2008.
The hotel has been acquired by Rashmi Dedigama and Peter Karan of Lavendish Leisure, a subsidiary of the Dedigama Group, a company based in Sri-Lanka that specialises in financial services, jewellery, gem and jewel exports, real estate and plantations.
The Cathedral Quarter Hotel comprises 38 bedrooms and is a Victorian property that was originally built in the 19th century.
Located in the heart of Derby’s commercial district on St Mary’s Gate, the building previously served as a police station and also a council headquarters.
In 2008, The Finesse Collection converted it into a boutique hotel, retaining many period features, including Victorian mosaic floors, stained glass windows and a grand central staircase.
This is the second UK based hotel purchased by Lavendish Leisure, which currently comprises six hotels in Sri Lanka.
Rashmi Dedigama said: “We’re thrilled to be taking on this stunning period hotel which marks our second acquisition in the UK. We look forward to capitalising on the existing reputation of the hotel whilst putting our own stamp on it.”
In addition to the bedrooms, the hotel has a cocktail bar, Bogart’s, and a British restaurant, Opulence.
Josh Sullivan, associate director in Colliers’ Hotels Agency team who handled the sale commented: “The hotel was sold in a confidential fashion and yet generated substantial interest resulting in multiple offers. The asset presented exceptional value given its size, location, and potential to trade competitively within its market. The buyer has ambitious plans for the business and we look forward to seeing it flourish. This transaction further underpins the continued demand for sensibly priced, well-located regional hotel opportunities with the ability to add value.”
– www.boutiquehotelier.com
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