New group Cornish Coastal Hotels acquires first property
Acting on behalf of owner Paul Roberts, Christie + Co has sold the freehold of the Wellington Hotel in the village of Boscastle, North Cornwall, to new operator Cornish Coastal Hotels Ltd, for an undisclosed sum, off an asking price of £1.65 million.
Situated at the harbour side of the pretty North Cornish village, the 15-bedroom hotel features the 30-cover Waterloo Restaurant, which was redesigned and refurbished by the BBC Changing Rooms team in 2004, with presenter Laurence Llewellyn Bowen reportedly a regular diner. The restaurant recently won a 2AA Rosette Award.
In addition to the restaurant the Wellington Hotel has a main 25-cover bar, a 32-cover rear dining area, a beer garden, and a 15-space car park. There are also two units of owner’s accommodation as well as four-bedroom staff accommodation.
Cornish Coastal Hotels Ltd, which is headed by Jonathan Scott, plans to acquire a number of similar businesses in the region over the coming years.
Jonathan Scott, Director of Cornish Coastal Hotels Ltd, said: “I am delighted that we have completed the purchase of the Wellington Hotel in Boscastle. The hotel has an excellent reputation and we intend to build on this over the coming years. The hotel will operate throughout the handover period, continuing to offer our valued customers a friendly welcome.”
Simon Harvey from Christie + Co’s Exeter office, who handled the sale, said: “The previous owner, Paul Roberts, has retired after many successful years and the new owner, Cornish Coastal Hotels Ltd, is looking to expand the current operation. This will hopefully be the first of many hotels to be acquired by this new operator in the Cornish hotels market.”