UK's Selfridges owner rumored to be in the running to buy The Grand Hotel in Brighton

The owners of high-end department stores Selfridges and Fortnum and Mason in the UK are rumoured to be in the running to buy Brighton's iconic The Grand Hotel, reports UK's The Argus.

Wittington Investments is said to be the front runner to buy the property from the De Vere Group, which put the hotel on the market in November to ease a £1.1 billion in debt.

De Vere Group has owned the listed hotel for the past 20 years. The 150-year-old Grand was rebuilt in 1984 following an IRA bomb that detonated in the property during the Tory Party conference.

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The group recently spent more than £7 million on improvements to the 201-room hotel including a new spa, an improved bar, a new restaurant and refurbished bedrooms.

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