RSM has advised on the sale of the Mill Hotel and Spa in Chester city centre.
The Mill Hotel, originally established by Gordon Vickers in 1987, is an iconic destination of choice for visitors to Chester. The three star Mill Hotel boasts 132 en-suite bedrooms, a restaurant and bar and spa and leisure facilities.
The Mill Hotel will be operated by Bespoke Hotels, who also operate the Chester Grosvenor within the city. Founded in 2000 by Haydn Fentum and Robin Sheppard, Bespoke Hotels has grown to represent over 200 properties worldwide, and stands as one of the UK’s largest independent hotel groups.
Ian Latham and Helen Brocklebank from RSM advised the vendors and Stuart Scott-Goldstone and Jamie Hawley from Chester legal practice Aaron & Partners acted as legal advisors to the shareholders.
Gordon Vickers, founder of the Mill, said:
‘It has given me enormous pride to develop the Mill over the last 30 years. RSM’s understanding of the potential for continued development of the hotel and the key drivers of the leisure sector was critical in helping to identify a suitable home for the business which would preserve the hotel’s atmosphere and culture. I look forward to seeing the Mill continue to grow and provide a high level of service to its customers.’
Ian Latham, corporate finance partner for RSM, said:
‘The Mill Hotel is a well-loved Chester institution and the partnership with Bespoke Hotels going forward will further enhance its position. We received significant interest from potential purchasers and it was great to draw on our extensive sector experience to deliver a successful exit for the shareholders to the right purchaser and provide a strong platform for the future continued success of the hotel.’
Haydn Fentum, CEO of Bespoke Hotels, added:
‘We are thrilled by the prospect of working with this historic property, as well as strengthening our affiliation with Chester and the North West of England, which is a flourishing market and region of real significance to the group.'
Stuart Scott-Goldstone is head of the corporate and commercial team at Aaron & Partners, which provides legal services to those who own, run or invest in businesses. He added:
‘We are delighted and very proud to have played a part in securing this landmark deal. The Mill Hotel is one of the most well-known and popular hotels in Chester and we look forward to seeing it continue to develop in the hands of a new buyer with plenty of experience in the hospitality sector.’