The Cottage Hotel, overlooking Hope Cove near Salcombe, has been sold in a multimillion-pound deal to Beach Barefoot Hospitality, the UK trading arm of an international hotelier.
The off-market deal was arranged by joint agents Simon Stevens Associates and Charles Darrow on behalf of the Ireland family, which had owned and operated the 45-bedroom hotel for more than 50 years. The exact sale price has not been disclosed, although offers had been invited at a guide price of £8m for the freehold property and operating business. The deal also includes a staff house and two luxury apartments.
Beach Barefoot Hospitality plans to reposition The Cottage Hotel as a luxury waterfront venue, with a focus on exceptional service and a resort-style environment. Chris Field, head of hotels and hospitality at Sirius Finance, arranged funding for Beach Barefoot Hospitality’s acquisition, while Minesh Patel of Keystone Law advised the buyer and Matthew Cook of Elevate Legal represented the Ireland family.
William Ireland, a director of JK and J Ireland (Cottage Hotel) Limited, said: “We have made substantial investments in the property to ensure its future success and it now has huge potential for a future owner to add value. We wish Beach Barefoot Hospitality every success.”
Simon Stevens, independent hotel broker of Simon Stevens Associates, added: “This outstanding hotel has a rich history and an impressive, long-standing reputation, making it highly attractive to the purchaser. The hotel industry has enjoyed a buoyant summer season, encouraging investment into the sector with credible buyers seeking new opportunities. We would welcome any approach from other hoteliers considering their future plans.”
Jon Clyne, director of Charles Darrow, concluded: “This is an extraordinary property, nestled in one of South Devon coast’s most breath-taking locations, with uninterrupted sea and coastal views. Beach Barefoot Hospitality has very clear plans to capitalise on this superb setting for the luxury market, and we look forward to seeing that investment progress. We always welcome approaches from other owners to complete similar off-market deals.”
The Cottage Hotel, overlooking Hope Cove near Salcombe, has been sold in a multimillion-pound deal to Beach Barefoot Hospitality, the UK trading arm of an international hotelier.
The off-market deal was arranged by joint agents Simon Stevens Associates and Charles Darrow on behalf of the Ireland family, which had owned and operated the 45-bedroom hotel for more than 50 years. The exact sale price has not been disclosed, although offers had been invited at a guide price of £8m for the freehold property and operating business. The deal also includes a staff house and two luxury apartments.
Beach Barefoot Hospitality plans to reposition The Cottage Hotel as a luxury waterfront venue, with a focus on exceptional service and a resort-style environment. Chris Field, head of hotels and hospitality at Sirius Finance, arranged funding for Beach Barefoot Hospitality’s acquisition, while Minesh Patel of Keystone Law advised the buyer and Matthew Cook of Elevate Legal represented the Ireland family.
William Ireland, a director of JK and J Ireland (Cottage Hotel) Limited, said: “We have made substantial investments in the property to ensure its future success and it now has huge potential for a future owner to add value. We wish Beach Barefoot Hospitality every success.”
Simon Stevens, independent hotel broker of Simon Stevens Associates, added: “This outstanding hotel has a rich history and an impressive, long-standing reputation, making it highly attractive to the purchaser. The hotel industry has enjoyed a buoyant summer season, encouraging investment into the sector with credible buyers seeking new opportunities. We would welcome any approach from other hoteliers considering their future plans.”
Jon Clyne, director of Charles Darrow, concluded: “This is an extraordinary property, nestled in one of South Devon coast’s most breath-taking locations, with uninterrupted sea and coastal views. Beach Barefoot Hospitality has very clear plans to capitalise on this superb setting for the luxury market, and we look forward to seeing that investment progress. We always welcome approaches from other owners to complete similar off-market deals.”
It is a long established fact that a reader will be distracted by the readable content of a page when looking at its layout. The point of using Lorem Ipsum is that it has a more-or-less normal distribution of letters, as opposed to using ‘Content here, content here’, making it look like readable English. Many desktop publishing packages and web page editors now use Lorem Ipsum as their default model text, and a search for ‘lorem ipsum’ will uncover many web sites still in their infancy.
It is a long established fact that a reader will be distracted by the readable content of a page when looking at its layout. The point of using Lorem Ipsum is that it has a more-or-less normal distribution of letters, as opposed to using ‘Content here, content here’, making it look like readable English. Many desktop publishing packages and web page editors now use Lorem Ipsum as their default model text, and a search for ‘lorem ipsum’ will uncover many web sites still in their infancy.
The point of using Lorem Ipsum is that it has a more-or-less normal distribution of letters, as opposed to using ‘Content here, content here’, making
The point of using Lorem Ipsum is that it has a more-or-less normal distribution of letters, as opposed to using ‘Content here, content here’, making it look like readable English. Many desktop publishing packages and web page editors now use Lorem Ipsum as their default model text, and a search for ‘lorem ipsum’ will uncover many web sites still in their infancy.
It is a long established fact that a reader will be distracted by the readable content of a page when looking at its layout. The point of using Lorem Ipsum is that it has a more-or-less normal distribution
Copyright BlazeThemes. 2023
