Richardson Hotels has announced it will be selling The Falmouth Hotel, in Falmouth, and Abbey Sands Hotel, in Torquay, for the respective guide price of £7.5m and £1.95m.
The news comes as Richardson Hotels’ owner, Keith Richardson, has taken the strategic decision to divest these hotels as part of a retirement strategy.
The two hotels in Cornwall and Devon are available for offers in excess of their respective guide prices, and can be acquired separately or as a portfolio of two assets.
The Grade II-listed Falmouth Hotel benefits from sea views and comprises 71 en-suite bedrooms, and includes the ground floor AA rosette-rated Castle restaurant and bar. There are also three function rooms with a combined capacity of 170 guests.
In addition the property has a spa that provides a fully-equipped gym, indoor heated swimming pool, hot tub and sauna, and a variety of treatment rooms. Externally, there are gardens, a terrace and car parking.
Meanwhile, The Abbey Sands Hotel is located on Belgrave Road in Torquay, and also benefits from sea views from a number of its 47 bedrooms. There is scope to increase the bedroom count to 52 with five further rooms, converted from unused space, nearing completion.
The hotel’s Riviera Restaurant and Lawns Lounge Bar provide around 80 covers and access to a large terrace. In addition, there is a large ballroom with capacity for 200, a further function room, indoor swimming pool and gardens with an external swimming pool.
Richardson said: “I have decided to sell these hotels as part of a retirement strategy. The purchaser of these hotels will inherit excellent staff and I am sure they will continue to look after our staff, guests and these fabulous hotels going forward.”
James Greenslade, director of hotel capital markets at Savills, added: “These sales represent an excellent opportunity to acquire the freehold interest in two fantastic south west hotels.
“The Falmouth Hotel is one of Falmouth’s best known hotels, located above Castle Beach with excellent sea views. The Abbey Hotel is in an excellent location in Torquay, offering easy access to both the seafront and town centre. We expect good interest in both properties.”