Savills has been appointed by administrators to sell two hotel assets formerly owned and operated by Shearings Hotels.
S J Woodward and C P Dempster, joint administrators of Shearings Hotels Limited has called on Savills to sell the Grand Hotel in Exmouth and Majestic Hotel in Bournemouth
In May this year, all 44 hotels operating as part of Bay Hotels, Coast & Country Hotels and Country Living Hotels within the Shearings Group closed their doors for good and told they would not reopen after lockdown.
The Majestic Hotel in Bournemouth is being marketed for in excess of £1.7m and comprises 68 bedrooms, a restaurant, bar and entertainment space, as well as 15 staff bedrooms and owners accommodation. The property is a short walk from Bournemouth beach.
The freehold and part leasehold Grand Hotel in Exmouth is being marketed for in excess of £1.35m. The hotel occupies a prominent position on Morton Crescent overlooking Exmouth seafront and beach, and comprises 74 bedrooms with restaurant, bar and entertainment area as well as a large function suite which is currently unused.
James Greenslade, associate director in the hotels team at Savills in Exeter, says: “These are extremely well located hotels in close proximity to the beach in popular holiday resort locations. The hotels are being sold with vacant possession, free of any branding or management commitments. We anticipate keen interest from investors and owner-operators.”