A Conwy Valley hotel - shut for over two years - has been sold. Caer Rhun Hall hotel closed in January 2020.
Gavin Woodhouse’s company Northern Powerhouse Developments(NPD) had bought the property in 2015 for £1m.
NPD were undertaking a redevelopment of the site but issues were raised over the finances of the chain and the high court appointed Philip Francis Duffy and Sarah Helen Bell, of Duff & Phelps Ltd, as administrators of the hotel in August 2019.
It closed five months later and has been up for sale for £1.95m with commercial agent Sanderson Weatherall. As with NPD's other hotels across in Llandudno there were issues with leases attached to the property from the investment model created by the company.
READ MORE: North Wales hotel set for £6.5m redevelopment
Agents were instructed to market with the leaseholds still attached and a reduced offer was accepted by administrators. The hotel has now been sold for £760,000 according to an updated report for the administrator, which is now Kroll.
Following the sale a distribution of £650,000 was made to the North Wales Asset Finance (NWAF) which had a fixed charge security over the property. There were no funds left to be distributed to the unsecured creditors who were owed around £3.6m.
The buyer's identity has not been revealed but is understood the plans are to reopen the site as a hotel. Our contact details have been passed to the new owner through a third party.
Caer Rhun Hall dates from 1895 and was built for a Major-General Gough, who was Lieutenant Governor of Jersey between 1904 to 1910. Ronald Anderson founded an accountancy school at the site nearly 70 years ago but this closed in 2015 and the site sold by his son John Anderson.
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