Property company Colliers International confirmed today that private buyer Gerald Aburrow, a former employee at Warner Brothers and his business partner had bought the 20-bedroom hotel out of administration.
The hotel, which attracted a large number of bids, has been run as a going concern by PriceWaterhouseCoopers since its holding company ERH Scarborough went into administration on 24 August 2011.
Its sale follows those of two other Scarborough hotels - the Royal and the Clifton - to Britannia Hotels last week.
Peter Bean, hotels director at Colliers Leeds, said: “The Wrea Head is an immensely characterful country house hotel with over 10 acres of grounds. Whilst the business has concentrated mainly on bedroom trade, there is tremendous scope for further developing the function and non-resident food trade, with potential for a marquee or a permanent function facility.”
A new owner is yet to be announced for Hackness Grange, the fourth hotel in the group.