A hotel near Salcombe is set to become a luxury waterfront venue after being sold in a multimillion-pound deal. The Cottage Hotel, which overlooks Hope Cove near Salcombe, was bought in an off-market deal by Beach Barefoot Hospitality from the Ireland family, who had owned it for more than 50 years.
The exact sale price for the 45-bedroom venue has not been disclosed, but offers had been invited on a guide price of £8 million for the freehold property and the operating business. The purchase also includes a staff house and two luxury apartments.
Beach Barefoot Hospitality, the UK trading arm of an international hotelier, now plans to reposition The Cottage Hotel as a luxury waterfront venue. Independent hotel broker Simon Stevens, of Simon Stevens Associates, and Jon Clyne, director of commercial property agency Charles Darrow, worked closely on the deal as joint agents for the Ireland family.
Simon Stevens said: "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."
Jon Clyne said: "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 market and complete similar off-market deals on a confidential basis."
The Cottage Hotel is set in around three acres overlooking Bigbury Bay with direct beach access, and currently features spacious public areas, a seasonal bistro, ice cream parlour and art studio.
A statement from Beach Barefoot Hospitality said: "We are excited to have purchased this well-known hotel on such a glorious coastal vantage point. We will now reposition the hotel as a waterfront luxury venue delivering exceptional service to guests seeking a unique
Historic Devon Hotel Sold After 50 Years in Multimillion-Pound Deal