Surge in interest in North Wales hotels from outside investors
The sale of a five-star hostel, hotel and guest house in Snowdonia National Park in North Wales for a combined sum of almost £2m proves the increasing popularity of the region to outside investors, according to the specialist hotels team at real estate adviser Colliers International.
Acting on behalf of the owners of the three properties, Colliers concluded the three significant transactions in quick time since the start of 2018.
Plas Curig Hostel, a former YHA hostel at Capel Curig, Betws-Y-Coed, sold from an asking price of £995,000 to Christian and Annie Wynne from Aylesbury, Buckinghamshire following a complete refurbishment by owner Amy Searle from Hampshire to create a five-star luxury hostel that set a new benchmark for such accommodation in North Wales.
The property has 14 rooms for 59 guests, a self-catering kitchen, spacious public areas, a fully refurbished three-bedroom owner’s or self-catering cottage and additional staff accommodation and parking.
Glyntwrog House, also in Betws-Y-Coed, was acquired by Stephen and Alison Burgess of Cheltenham, Gloucestershire from owners Ian and Janet Poole from an asking price of £625,000. The four-star Victorian property set in 3.8 acres of private gardens and woodland with parking offers six en-suite bedrooms and was awarded a Trip Advisors’ Certificate of Excellence.
The third deal secured by Colliers saw Rohan Slabbert and Ian Evans from Worthing, West Sussex acquire Y Branwen Hotel, Harlech from Andrew and Joanne Marshall from an asking price of £310,000.
The hotel and restaurant overlooked by Harlech Castle and close to championship golf course Royal St David’s Golf Club has eight en-suite letting bedrooms, a restaurant with 30 covers, an owner’s private bedroom and bathroom and parking for 18 vehicles.
Neil Thomson, associate director, hotels agency at the Manchester office of Colliers International, secured the three sales.
He said they reflected an increase in the number of national and regional buyers drawn to North Wales and specifically, such properties in Snowdonia National Park because of cost-effective valuations and ongoing investment in the region’s attractions and infrastructure for local people and visitors.
Thomson said: “Potential buyers from outside the area continue to be attracted by more realistic property values across North Wales, allowing them to get more for their money.
“North Wales is also an attractive region in which to invest because it attracts 12million day visitors every year, drawn by attractions such as Zip World, Surf Snowdonia and Bounce, combined with continued improvements to road and rail networks.”
