Christie & Co has completed on the sale of Nethway Hotel, located in Torquay, Devon to a first time buyer.
The 25-bedroom hotel, occupying a detached Victorian villa believing to date back to 1840, has been owned by Dave and Jo Ison since 2006, who have since invested in refurbishing the property and changing the direction of the business to focus on weddings.
They have sold Nethway Hotel to Julie Wray, a former IT director who is making her first move into the hospitality industry with the help of her family and partner Gary.
She will now continue to drive weddings at the business, with Nethway Hotel set to host over 50 weddings and receptions this year.
The hotel also benefits from private leisure and group travel accommodation bookings.
Alongside its bedrooms, Nethway Hotel comprises a function room for up to 80 guests, a bar and lounge and extensive outdoor space licensed for wedding ceremonies, plus a swimming pool.
Previous owner Jo will be staying on as an employed wedding planner after completion of the sale.
Wray comments: “We are delighted to have found the Nethway Hotel. Dave and Jo have spent many years transforming the Nethway into the superb wedding venue it is today, complementing the beautiful view of the bay from the terrace.
Stephen Champion, associate director at Christie & Co, handled the sale and comments: “The Nethway Hotel is a fine example of an independently-owned Torbay Hotel, so it was no surprise Julie Way moved quickly to secure the hotel after her viewing.
“This sale further illustrates that the South West hotel market remains buoyant as a hotspot for both domestic and international tourism.”