Hotel sells well under original asking price

Repossession: The New Bath Hotel in Matlock Bath, which has been repossessed and closed to all guests and functions with immediate effect.
Repossession: The New Bath Hotel in Matlock Bath, which has been repossessed and closed to all guests and functions with immediate effect.

A landmark hotel which stood empty for two years is facing a new future – after being sold at auction for £930,000.

The New Bath Hotel, in Matlock Bath, went under the hammer for well under the original £2,500,000 asking price it was given when first put up for sale in 2012.

At a recent auction, held in London, the iconic property was listed in the residential section – which means its long-standing history as a hotel appears to have come to an end.

Henry Jackson, a partner in the Knight Frank estate agents, who were overseeing the sale, said: “We believed it was best to sell the property at auction.”

The hotel, which dates back to the 18th Century, was closed at short notice in July 2012 and a repossession order placed on it after owners, Albermarle Hotels (No.2) Limited, went into liquidation.

At the time, the Mercury reported how shocked staff were told they were out of work without notice.

An employee said at the time: “We hadn’t heard anything about the hotel closing until the bailiffs turned up. When they arrived they got everyone out of the hotel and began the process of clearing it out.”

Brides-to-be were also left without a reception venues in the wake of the closure.

The former hotel comprises of 69 bedrooms, conference rooms, indoor pool, lounge bar, drawing room, restaurant, reception, kitchens.

The property – which is set within five acres of gardens – also has a tennis court, pool, and car park outside.