Surya buys Hertfordshire hotel for £12.5m

Surya Hotels has bought the Theobalds Park Estate in Hertfordshire for £12.5m. The hotel, which was bought out of receivership, comprises 55-acres of land and a vacant, freehold property with 140 en suite bedrooms, two restaurants, a bar, and extensive meeting and events facilities. The property has undergone significant investment in recent years, with more than £8m in capital expenditure since 2020. Theobalds Hotel has previously operated under hotel brands including DeVere and Birch. Surya will operate the property under its own brand. Surya’s Sukhi Dulai said: “Theobalds Park Estate is an excellent asset which will bolster our existing portfolio with its impressive facilities, historical features and great connectivity. We look forward to the opportunity to refurbish the property under our own branding and operations, transforming it into a hotel welcoming both leisure and corporate visitors.” Henry Jackson, partner at Knight Frank, which advised on the sale of the estate, said it had received more than 10 credible offers for the property. “Its strategic location and amenities mark it out as a premium asset that can be enhanced further through refurbishment and Surya’s expert management,” he added.