A 14-bedroom hotel in Fowey, Cornwall has ceased trading after 13 years as its owner exits the business.
The Cormorant Hotel has been owned by Mary Tozer since 2006, who has developed the hotel, bar and restaurant into a successful business, scooping 2 AA Rosettes and benefitting from a high percentage of repeat custom.
She is now to retire and as a result, the business has ceased trading and has been sold to independent developers, Green & Rock, who are working in partnership with W K Gelston Contractors to transform the building into nine luxury riverside homes.
John Orriss, director and founder of Green & Rock, commented: “In 2020 we will be commencing this very bespoke project with the construction of 9 luxury riverside homes on the site of the Cormorant Hotel. Rarely does an opportunity arise for homes with such stunning views.”
Stephen Champion, associate director at Christie & Co, handled the sale and comments: “It has been a pleasure working with our client Mary Tozer to facilitate her exit from the business. We look forward to seeing Green & Rock’s finished development.”