Real Hotel Group sells final property

PERTH'S Quality Hotel has been bought by Mark Kotecha, of Supportico, for an undisclosed sum, making it the final property from the Real Hotel Group portfolio to be sold.

By The Newsroom

Published 17th Feb 2010, 21:17 BST

Updated 17th Feb 2010, 21:26 BST

The 69-bedroom hotel, which turned over 890,000 in 2008, was sold by surveyor and valuer Edward Symmons on behalf of BDO, which was appointed administrator of the Real Hotel Group in January 2009.

Hugh Anderson, a partner at Edward Symmons, said: "The completion of this sale demonstrates the improving appetite of cash buyers in the market for distressed assets."