The four-star complex, which comprises a 78-bedroomed hotel and purpose designed conference and banqueting centre, was opened by HRH the Duke of York last year following a £10m conversion.
Joint administrator and partner at KPMG Richard Hill has blamed the cost of the conversion and a lack of spending in the leisure sector as its downfall.
"Unfortunately the amount of money required to convert part of the site for use as a hotel and conference facility, combined with a downturn in spending in the leisure sector has caused serious financial problems," he said.
The complex, which employs 55 people some of whom are part time, will remain open and continue to operate as normal until a buyer is found.
"Our initial strategy is to stabilise the business and start to generate profits which will increase the value and attractiveness of the hotel, the associated leisure facilities and the rest of the business park," added Hill.
The venue's phone numbers are temporarily out of order, however marketing manager Debbie McIvor-Main has said this is due to a fault with BT, not because they have been cut-off.
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