A seafront hotel in Devon that has gone on the market for almost £5m is expected to be in demand as interest in coastal properties rises significantly post-lockdown.
The Redcliffe Hotel is up for sale with Christie + Co with an asking price of £4.5m as its owners look to retire after over 40 years running the business.
The hotel comprises 70 bedrooms and a number of dining options that overlook the coast. It has been significantly expanded over the years with a restaurant wing, new ballroom, kitchen extension and a new leisure complex added.
The property was constructed between 1855-65 as a grand home, originally named Redcliffe Towers, for the retired Colonel Robert Smith. It received a conversion into a hotel in 1903.
Speaking on their behalf, the current owner Stephen Twigger comments: “It has been our pleasure to be the guardians for the last 41 years and we are proud of the reputation we have built for the hotel during this time, however we feel now is the right time for us to retire from the sector and we look forward to passing the reins to a new owner.”
Stephen Champion, director at Christie & Co is handling the sale and comments: “Interest in hotels has increased significantly post lockdown, with a number of quality hotels in the South West having gone under offer in recent weeks through Christie & Co. Speculative buyers are looking ahead at the booming demand for domestic travel fuelled by the rise in staycations and drop in foreign travel. We expect The Redcliffe Hotel with its unique location to attract significant interest from a wide range of purchasers.”