Grand Hotel in Brighton, UK, sold

The Grand Hotel in Brighton has been sold. The hotel in Kings Road Brighton had been up for sale with a £50-million price tag after owners the De Vere Group spent more than £7 million on improvements to the hotel.

It was reported in March that the owners of exclusive department stores Selfridge's and Fortnum and Mason were rumoured to be in the running to buy the iconic hotel but The Argus reports that the hotel's general manager could only reveal that it had been sold to private investors.

Wittington Investments was 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.

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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.

Current management is expected to stay on board post-sale.

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