Cash-strapped Buxton Crescent Hotel goes up for sale just four years after opening

In May it was announced the company behind the luxury spa and hotel in Buxton defaulted on a multimillion-pound county council loan repayment.

Today, Wednesday September 11 the two hotels were put on the market.

Speaking to the Buxton Advertiser, an Ensana spokesperson, said: “We confirm that the Buxton Crescent Hotel and The Old Hall Hotel have been put on the market today via global commercial real estate company CBRE.

“The properties are being offered debt free with the owners confirming that all existing loans on the hotels will be repaid.

“The hotels and all staff are working on a ‘Business As Usual’ premise as there is no change in the day to day operation of the hotels.”

The hotel reopened in 2020 - 17 years after a £70m renovation began.

However finance reports revealed the company told Derbyshire County Council in March 2023 it "may not... be able to commence" loan repayments worth £11.4m due to the "hotel’s weaker than anticipated revenues and high cost of energy".

A statement from Derbyshire County Council said: “Buxton Crescent Ltd have unfortunately defaulted on the payment of a loan made by the county council for the Buxton Crescent Hotel.”

The council wrote off £566,000 and £162,000 of interest on the loan for 2020/ 2021.

The Crescent Hotel employs 170 staff - 90 per cent who come from the High Peak.

In June, newly appointed CEO for the hotel Deidre Billing said: “I have seen the news about the repayments being missed and I know some people may be worried about what it will mean for the future of the Crescent.

“There are 198 years left on the lease and I know there is now a secure payment plan in place for the loan.

“The repayment plan and the hotel are two separate things and it is 100 per cent business as usual.

“The future of the hotel is very secure.”

Details of the property are not yet listed on the sellers website.