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Langsam Expands: But Not Into Refurbing Fire Station

Britannia acquire more hotels as Fire Station rots

Published on April 23rd 2012.


Langsam Expands: But Not Into Refurbing Fire Station

ACCORDING to the Business Desk,  Alex Langsam has bought two hotels from De Vere Group for £20m.

These are near and far.

One is the De Vere Daresbury Park Hotel in Warrington, and the other is down south in Bournemouth and the Royal Bath Hotel. 

It's a shame that closer to the Manchester origins of Britannia Hotels the London Road Fire Station still moulders and rots after being let down by the company once again.

We broke the latest shambles the building finds itself in after assurances to begin work converting the premises into a hotel were reneged upon by Britannia Hotels. Read here for the full story of English Heritage's disquiet at being misled.

The lack of action at the Fire Station is surprising given the expansion of Britannia Hotels elsewhere.

As the Business Desk points out, over the last couple of years Britannia has aquired the Pontins holiday camp business, the Scarisbrick Hotel in Southport, the Royal and Clifton Hotels in Scarborough and the Russ Hill Hotel close to Gatwick Airport.

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5 comments so far, continue the conversation, write a comment.

Poster BoyApril 25th 2012.

Is the lack of action really surprising? Let's see; opportunistic purchases of fully operational hotels, in a depressed buyer's market, at advantageous prices, which you can borrow against or, er, trying to develop a folly involving the risks inherent in property development, a change of use, on a listed building, financed largely from equity, which has become a personal vendetta for everyone that has, or will have an interest in it...call me naive, but...

JoanApril 25th 2012.

A wierd business model though: buy building, make a mess of them.

Poster BoyApril 27th 2012.

I'm no apologist for Britannia, but I think they were a very different outfit when the bought the building, compared to the business today.

AnonymousApril 27th 2012.

@Poster boy, OK so its time to sell the building on then, to let someone else rescue it, before it falls down.

Poster BoyApril 30th 2012.

Agreed. But after all these years, the property probably stands the company at next to nothing in their books, and doesn't cost them anything to keep. The 'problem' I suspect, after all the venon and poison, is not that Britannia will not sell it, but to whom -certainly not to the City and definitely not to one of Bernstein's 'usual suspects'.
Simply put, Brittania will have to be seen to have 'won'.
Someone, somewhere needs to get a bit creative eg W operate it, a development manager carries out the work, and Britannia keep the completed investment. Win, win for all concerned.

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