Arcadian has bought Chilston Park, which owns Chilston Park Hotel, a 38-bedroom hotel near Leeds Castle, in Kent for £4.4m. It is being developed into a 53-room hotel with increased conference facilities. Arcadian has invested £100,000 in a 10% stake in a joint venture company European New Timeshare, with the vendors of Chilston.
Arcadian also granted Homewood Park an option, exercisable this month, to buy Hunstrete House, near Bath, for £1.86m. Arcadian considers the 25-room hotel to small for its portfolio.
- Financial Times 03/1/96 page 14
- The Times 03/1/96 page 24
