• Brighton deal close

An investor that owns Fortnum & Mason and Associated British Foods is set to buy the Grand Hotel in Brighton for around GBP50m. Wittington Investments has beaten rival bidders for the landmark hotel, being sold by De Vere, reports the London Times.

The 201 room hotel was put up for sale as part of De Vere’s efforts to reduce its GBP1.1bn debts. The company’s six golf resorts are likely to be prepared for sale in the coming months, followed by the Urban Village chain.

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