Our Restructuring and Insolvency and Real Estate teams have advised Derbyshire Country Council and High Peak Borough Council on the sale of the Buxton Crescent Hotel and Wellness centre and Old Hall Hotel to luxury spa operator, Champneys, in partnership with Cheyne Capital.

The Grade I Listed Crescent and adjoining Natural Baths will continue to operate through Champneys with existing staff retained and further work with local partners to support Buxton's visitor economy. Our teams have long supported the Council on its investment in Buxton Crescent, acting for the Council since 2004 on its regeneration of the site on which the Buxton Crescent Hotel and Old Hall Hotel now stand, including the £16 million financing on the development of the hotels in 2016.

The team was led by Partners Jasvir Jootla (Restructuring & Insolvency), Kate Cunningham (Real Estate), and Amar Adatia (Corporate), with support from Senior Associate Karolina Lewandowska .

Jasvir said: "This was a fantastic project to see through to a successful outcome for the Councils, with jobs secured and an historic site protected for the local economy to thrive is a great achievement. Congratulations to all involved."

Kate said: "The Crescent and the Natural Baths are among Derbyshire's most significant heritage assets. We've ensured the sale structure respected their Grade I status while enabling Champneys to continue operations with staff retained, so the site can thrive and benefit Buxton's visitor economy."

Derbyshire County Council Finance Manager Jess Gerrard said: "The support and expertise the Gowling WLG team have provided from the start has been very welcome."

Gowling WLG is home to one of the UK's largest real estate practices. To learn more about our expertise and services, visit our Real Estate Sector page.