The group behind the £50m conversion of Bodmin Jail into a new hotel has acquired its second site to operate alongside its Cornwall flagship.
Mallino Development Limited, which opened the four-star, 70-bedroom Bodmin Jail hotel in February, has taken over The Redcliffe Hotel in Paignton Devon after 40 years under the same family ownership.
In a deal secured by Christie + Co, the hotel was sold off a guide price of £4.5m.
The 70-bedroom hotel is situated in a Grade-II listed building first constructed between 1855 and 1865 as a grand home named Redcliffe Towers.
It has been owned by the Twigger family since 1979, with the family making the decision to sell as current owner Stephen Twigger is looking to retire.
Speaking on behalf of the family, Stephen comments: “Our family are proud and privileged to have owned this wonderful and unique hotel for the last 42 years. We would like to thank all our loyal staff, customers and suppliers for their support, especially over the last 18 months and we wish the new owners continued success in the future.”
Rob Cox managing director of Mallino Development Group said: “We are delighted to have secured the purchase of this fantastic, stunning hotel and look forward to investing further to reposition it alongside ‘The Bodmin Jail Hotel’ embracing luxury and history to create unforgettable experiences for our guests.”
Stephen Champion, director at Christie & Co handled the sale and comments: “The Redcliffe Hotel truly is a landmark building on the Torbay coast and it is rare that such an opportunity comes to the market in this region, so it is unsurprising that the hotel generated significant interest from both domestic and international hotel buyers. We look forward to seeing what plans Mallino Development Group have in store for the hotel and wish them every success in the future.”