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21 Nov 2016

Commercial

Commercial Property

Jolyon’s sold to group of investors with plans for luxury refurbishment and rename

Joylon’s boutique hotel in Cardiff has been sold to a group of four investors, headed up by former Park Plaza general manager Hugh Hilary.

The investors plan to rename the hotel and embark on an ambitious refurbishment programme. Newport-based HardingEvans Solicitors advised the group of investors on the purchase of the hotel at No.10 on Cathedral Road.

The group of investors includes Hugh’s brother Michael and founder of Intercity Removals, George Enescu. Mervyn Joseph, previous director of the company, is the fourth investor.

HardingEvans acted for the purchasers in connection with the preparation, negotiation and completion of the share purchase agreement and ancillary documentation for the acquisition of a majority shareholding in Green Hotels Limited, the former owner of Jolyon’s.

Mike Jenkins, Partner and Head of Commercial at Harding Evans Solicitors in Newport said: “We have worked with Hugh on many occasions in the past and were delighted to provide the legal advice and support needed to conclude his latest commercial venture.”

“The three-week turnaround made it a challenging brief but Hugh and his team were a delight to work with and we wish him and the whole team at Jolyon’s every success for the future.”

Hugh Hilary, who heads up the group of investors that have purchased the hotel, has 38 years’ hotel management experience. He said: “Having run hotels for other hotel groups and private individuals, I’m very excited to be involved for the first time in my own project.

“The opportunity to purchase the majority share only came up three weeks ago, and we’re very grateful that HardingEvans were able to turn the deal around in such a short space of time.

“Jolyon’s is a great hotel with huge potential. This, combined with its proximity to the city centre, is what made it such an appealing investment. We’re hoping to start on the refurbishments in early 2017 and give the hotel more of a luxury-feel, with a focus on improving the lobby and the banqueting areas.”

“We’re also planning to rename the hotel. We haven’t decided on a name yet, but the favourite at the moment is No.10, to keep an element of the existing branding.”

The group has already appointed the current operations manager at the Park Plaza, Jordan Lewis, as the new general manager at the hotel.

HardingEvans is one of South Wales’ most progressive law firms, offering a full range of legal services to businesses and individuals. It is a previous winner of Western Mail’s Welsh Law Firm of the year. For more information please visit www.hardingevans.com

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