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12. September 2012     Print Print 

De Vere Group continues non-core hotel sales with University Arms Cambridge

Following the successful joint sale of the Royal Bath, Bournemouth and the Daresbury Park Hotel, in an all cash deal earlier this year, De Vere Group has instructed specialist property adviser Christie + Co to market for sale the 119-bedroom University Arms, Cambridge on a freehold, unencumbered sale.

This iconic hotel, located in the heart of Cambridge and within walking distance of many of the principal colleges including Peterhouse, Emmanuel and Downing College, has a unique trading location overlooking the lauded Parker’s Piece. It is highly unusual that this 4-Star property is wholly freehold and is being sold free of the current management and all De Vere branding. This will allow prospective purchasers the rare opportunity to re-position the property under a variety of potential global hotel brands, many of whom are seeking to secure an upscale hotel in this historic city.

Jeremy Jones, Director of Christie + Co, says: “With the trading performance of the University Arms materially ahead of the same period last year and Cambridge widely viewed as an international destination, we anticipate interest in this freehold hotel to be high. With the potential to re-position the hotel, renowned for generations as Cambridge’s best known hotel, we anticipate a huge amount of interest.” Reflecting the interest in this asset, Christie + Co has invited offers by a deadline of 5pm on Wednesday 3rd October 2012. Christie + Co is seeking offers in excess of £ 20 million for the University Arms.