Champneys snaps up landmark Buxton hotel
A historic Derbyshire spa hotel which fell behind on £11.4m council loan repayments last year has been bought out by luxury spa firm Champneys.
The grade-one listed Buxton Crescent Hotel was put on the market in September by operators Ensana, with main lenders Derbyshire County Council agreeing to suspend repayments while a buyer was found for the business.
The landmark building, which was designed by architect John Carr and built for the 5th Duke of Devonshire in 1780, was subject to a full renovation which began in 2003 – with an initial estimate for works set at £32m.
Derbyshire County Council had put up £11.4m for the cost of the renovations, which were also part-funded by a £23.8m grant from the National Lottery Heritage Fund – but costs ballooned to more than £70m by the time the building reopened as a five-star luxury hotel and spa business in October 2020.
The authority says the full value of the loan will now be repaid as part of the deal, with leader Cllr Alan Graves calling the agreement a “great day” for the people of Buxton.
“The Crescent is an important piece of Buxton’s past history and today’s tourism economy,” he said.
“Securing the future operation of Buxton Crescent will protect jobs in the town and continue to attract visitors to the area. I’m also pleased to confirm that as part of the sale of the hotel business to Champneys the original loan made by Derbyshire County Council to the hotel which led the project to restore the nationally important and unique grade one-listed building and adjoining grade two-listed natural baths will be repaid.”
The hotel, which features 81 bedrooms and various wellness facilities, lost £2.8m in its first full year of operations, which it said was “heavily impacted by Covid operating restrictions”.
According to accounts filed in December, the hotel stemmed its losses to £1.7m in 2023.
Hoping to turn that around will be renowned spa operator Champneys, after the Hertfordshire-based company confirmed Buxton Crescent would become its seventh UK operation.
The deal comes after investment fund manager Cheyne Capital agreed a £32m cash injection for Champneys last week.
Alan Whiteley, CEO of Champneys said: “Our 100th year is a celebration of wellness innovation, and Buxton Crescent perfectly aligns with our vision.
“We are thrilled to combine our expertise with this historic spa, blending centuries-old heritage with modern luxury and care. Our aim is to create a sanctuary where guests can truly focus on their health, recharge their energy and be inspired.”
The building will remain in the ownership of Derbyshire County Council as part of the agreement, with all existing staff transferred to Champneys.
