Alastair Massey and Steve Stokes, partners at FRP Advisory, the business advisory firm, were appointed in October 2017 as joint administrators to Astbury Hall Estates Limited (“Astbury Estates”), Astbury Estates LLP (“the LLP”), Astbury Development Company Limited, (“Astbury Development”) and Ken Downing Limited (“Ken Downing”) collectively known as “the Estate” and which owns and operates the Astbury, the Shropshire-based stately home, golf course and related corporate hospitality business.
The joint administrators continue to trade the businesses through the administration process with the golf course remaining open and bookings being taken for a range of corporate hospitality and private functions to use both Astbury Hall and the Astbury golf course. The joint administrators have received numerous approaches for the Estate from a wide range of potential buyers based in the UK and overseas.
Alastair Massey, joint administrator and partner at FRP Advisory said: “We have received substantive expressions of interest in the Astbury from around 50 parties, resulting in our evaluation of multiple competing offers for the business and assets. Buyer interest has been international and we are currently negotiating with a number of competing parties based in both the UK and overseas.
“The Astbury remains popular and we continue to take new bookings for Astbury Hall and the golf course for a range of functions, including corporate golfing events. Golfing has been particular popular leading up to and including week-ends.
“We shall continue to engage with interested parties in the Estate and negotiate with potential new owners, as part of our duties to ensure a long term solution to the business and lands in the interest of creditors. The joint administrators will continue to review the ongoing financial position while we remain highly focused on engaging with interested parties.”
The Astbury is a popular par 71, 18-hole championship golf course used by both professionals and amateur golfers and sits within over 300 acres of land belonging to the Estate. The course is currently ranked within the top three courses in the UK according to golfshake.com.
Astbury Hall is a Georgian designed stately home located close to Chelmarsh in Shropshire. Originally built during the reign of Henry III in the 13th Century, the building was destroyed by fire in 1889, and the present Astbury Hall was rebuilt in 1891 by the mayor of Bridgnorth Edmund Southwell. The Astbury is often hired out for corporate or charity golfing events and can provide catering for up to 60 guests within Astbury Hall’s dining rooms.
FRP Advisory http://www.frpadvisory.com/