Devon’s Sidholme Hotel has been sold out of administration to Arsh Holdings.
The Grade-II listed hotel, comprising 71 bedrooms, went on the market in July 2020, inviting offers in excess of £1.9m.
It was previously owned by Methodist Guild Holidays, which fell into administration in January this year.
Arsh Holdings now plan to refurbish the historic property, which includes many of its original architectural features from vaulted ceilings to chandeliers and a music room.
Alongside its bedrooms, Sidholme Hotel also boasts a swimming pool, lounges, conference room, restaurant and terrace.
Harriet Fuller, associate in the hotels team at Savills Exeter, says: “This is an impressive building that is full of history and uniquely positioned near to the town and seafront, and we look forward to watching the hotel’s next chapter with its new owners. Regional hotels, particularly in tourist locations, continue to perform well as we look forward to a summer out of lockdown.”
Ali Rad, MD of Arsh Holdings, adds: “This property is a historical landmark which needs more attention to flourish and become a well-appointed hotel both for locals and visiting guests. We strive to improve not only the appearance of the site but also the quality of service provided at the hotel.”