West Register takes over Bold Hotel Southport

A division of the Royal Bank of Scotland has taken possession of the Bold Hotel in Southport.

The hotel had been on the market since October last year, when the family-owned company which owned the property was placed into administration.

Dermot Power and Patrick Lannagan from BDO were appointed as joint administrators, and instructed the Manchester office of Colliers to put the hotel on the market with an asking price of £1.7m.

Colliers has said that a sale has now been concluded to West Register (Hotels Number 1) Ltd, which is a subsidiary of RBS.

It added that the 23-bed hotel, which has a restaurant, bar and a large function room, will continue to trade under management.

Colliers’ associate director Neil Thomson said: “After an intense marketing campaign, buyers were sought at an undisclosed figure, demonstrating that there is still an extremely active marketplace for profitable, trading assets in key strategic trading locations.”