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Hotel's new owners could be known soon

PUBLISHED: 09:50 25 February 2010 | UPDATED: 09:19 01 August 2010

THE new owners of the King's Head Hotel in Beccles should be revealed in about a month's time.

Six Norfolk and Suffolk hotels were put up for sale after the company that owned them went into administration

The King's Head Hotel, the Dukes Head Hotel in King's Lynn, the Cliff Hotel in Gorleston, the Wherry Hotel in Oulton Broad, Lowestoft's Hotel Hatfield and the Cavendish Hotel in Great Yarmouth were put on the market in December.

THE new owners of the King's Head Hotel in Beccles should be revealed in about a month's time.

Six Norfolk and Suffolk hotels were put up for sale after the company that owned them went into administration

The King's Head Hotel, the Dukes Head Hotel in King's Lynn, the Cliff Hotel in Gorleston, the Wherry Hotel in Oulton Broad, Lowestoft's Hotel Hatfield and the Cavendish Hotel in Great Yarmouth were put on the market in December.

Yesterday, hotel and licensed property specialist Colliers Robert Barry, which was appointed by administrators to sell the six hotels, said there had been a lot of interest in them and that all them should be purchased shortly.

Peter Brunt, director of Colliers Robert Barry, said that the buyers of the hotels should be revealed in about a month's time while paperwork and contracts are being arranged.

The six hotels were put on the market after three companies owned by Suffolk property millionaire Richard Cattermole - Elizabeth Hotels, Cavendish Hotels and Elizabeth Estates(BS) - were placed into the hands of administrators KPMG because of financial liabilities.

Five other Elizabeth Hotels hotels in the east of England are also being marketed by Colliers Robert Barry.

Before the three companies went into administration, the Star Hotel in Yarmouth and Dereham's Phoenix Hotel and two other hotels in Lincolnshire and Felixstowe were transferred into other group companies owned by Mr Cattermole.

The 40-bedroom Star Hotel, on Yarmouth's Hall Quay, was put on the market by Mr Cattermole two weeks after the administrators were called in.

It is being marketed for £950,000 by Fleurets of Sudbury.

December's administration also saw KPMG take on 13 pubs and three investment properties owned by Mr Cattermole.

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