CBRE Advises Richmond and Hampshire On the Sale Of The Elvetham Hotel Hampshire
CBRE Advises Richmond & Hampshire On the Sale of The Elvetham Hotel, Hampshire
| November 20, 2019
Global real estate advisor, CBRE, has advised Richmond & Hampshire on the sale of The Elvetham, a country house hotel in Hartley Wintney, Hampshire to Jastar Capital. Jastar Capital is a hotels, real estate and private equity family owned business.
The estate includes 35 acres of landscaped grounds and is a prestigious historical venue dating back to the 1200s. The Elvetham Hotel offers 72 bedrooms, 21 meeting spaces and 10 separate buildings over 79,000 sq ft of space and is held freehold.
Alex Lee-Bull, Associate Director, Hotel Investment Properties, CBRE said: “The sale provides an excellent opportunity for the new owner to reposition the Elvetham and take advantage of the property’s rich history and character. The property is located in one of the most affluent areas in the country and is within easy reach of London, making it well placed to become a destination country house hotel.”
Jay Matharu, Property Director, Jastar Capital said “Jastar is a family owned company, which I set up alongside my siblings Taran and Sindri, following a demerger at Grange Hotels. We are pleased to announce the addition of The Elvetham to the Jastar Capital portfolio. We hope to build on the well-loved foundation that has been safeguarded by the Dare family for almost two decades. The Elvetham Hotel will receive a significant investment programme, including refurbishment of bedrooms, bathrooms, common areas, the formation of a new restaurant and the construction of a market leading spa. This is the first of several planned acquisitions and developments. Jastar Capital has ambitious plans to grow its presence in the hospitality sector across the UK.”
Greville Dare, Managing Director, Richmond & Hampshire said “After 18 years of ownership we are very proud of what we have been able to achieve with The Elvetham as a business. It is a truly magnificent asset in a fabulous location. I am personally delighted for The Elvetham and for the staff that The Elvetham has been acquired by another privately owned ‘family’ business like ourselves. The Matharu’s are highly experienced, professional and successful hoteliers with great vision and resources which will enable them to further un-lock the Elvetham’s exciting potential. CBRE acted as real estate advisors throughout the process to a successful conclusion.”
About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBRE), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (based on 2018 revenue). The company has more than 90,000 employees (excluding affiliates) and serves real estate investors and occupiers through more than 480 offices (excluding affiliates) worldwide. CBRE offers a broad range of integrated services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.