A WINCHESTER hotel is under new ownership, with the new company behind the site expected to enhance its offering.

Jastar Capital has bolstered its portfolio with the acquisition of The Winchester Hotel and Spa, in Winchester.

The 98-bedroom hotel was sold for an undisclosed sum after a competitive bidding process, with the deal secured by Knight Frank and Simon Stevens Associates on behalf of owners Quantum Hotels Ltd.

Quantum Hotels took over the hotel out of administration from the Pederson group in 2011, which said it was now time to ‘let go’ of the business.

Gregory Harris, managing director of Quantum Hotels Ltd and his wife Sandra who worked closely with her husband during their ten years at the hotel. They said: “We have thoroughly enjoyed developing and nurturing the business for the last decade. Being some ten years beyond 'normal' retirement age, it was time to 'let go' and hand over the baton to a growing company that will continue to develop and invest in the business over the longer term. We wish the new owners all the very best of success with the hotel and also thank Paul Eaves, general manager and his entire team for all the dedication, enthusiasm and hard work they have contributed over the years.”

Jay Matharu, property director at Jastar Capital, commented: “Jastar Capital is proud to announce a new addition to our portfolio in Hampshire: The Winchester Hotel and Spa. We look forward to building on the longstanding success and welcoming hospitality that the Harris family, a family with deep ties to the Winchester community, has fostered for over a decade.

“The Winchester Hotel and Spa is a great asset for us in a high barrier-to-entry market, with attractive long-term growth potential.”

Henry Jackson, partner in the Hotels team at Knight Frank, added: “We are delighted to have sold the Winchester Hotel & Spa on behalf of Quantum Hotels Ltd. We received considerable interest in the hotel which led to multiple bids being received. The hotel compliments Jastar’s existing regional hotel portfolio, which includes the Elvetham hotel, and I am sure they have plans to enhance what is already a prime asset.”