Coastal town hotel set for revamp after acquisition

The Cliff Bridge Terrace property

A 50-bedroom, five-story hotel in Scarborough has been acquired by leisure brand Bike and Boot Inns, for an undisclosed sum.

The Mount Hotel, situated in the town centre, was previously owned and operated by the Lothian family from Glasgow for several years. They decided to see the asset in order to relocate back to Scotland.

Stewart Lothian said: “It is with a heavy heart that the family chose to sell the hotel which was largely for logistical reasons given the commuting distances between Scarborough and Glasgow.

“Our strong hopes were that The Mount would be sold for ongoing use and to a buyer who would invest and reinvigorate the hotel.”

The hotel sits within close proximity to the beach, the Stephen Joseph Theatre, the South Cliff Funicular Railway and The Spa events venue.

The Mount has now been taken over by Bike and Boot Inns, which is led by Simon Rhatigan and Simon Kershaw.

Bike and Boot Inns plan to invest in a refurbishment programme which will see alterations and upgrades take place at the hotel, which will reopen, fully refurbished and rebranded, in Summer 2019.

Business property adviser, Christie & Co completed on the sale of the hotel.

Kershaw said: “This is our first acquisition and our intention is to roll out the brand, initially across the North of England in key leisure and tourist locations, such as coastal towns and national parks.

“Our target client base is the short break market but with facilities for cyclist, walkers, dog owners and those who simply enjoy some of the most beautiful areas in the country.”

Mark Worley, director at Christie & Co who handled the sale, added: “With its elegant Georgian style façade and grand bedroom suites, most of which boast stunning views, The Mount is truly one of Scarborough’s gems.

“The sale of The Mount attracted a huge amount of interest and a number of credible offers and this deal, along with the recent Christie & Co sales of the 115 bedroom Crown Spa and the smaller 24 bedroom Ryndle Court Hotel, both in Scarborough, illustrate a good demand for sizeable hotels, not only in Scarborough but across Yorkshire and the North.”

Tony Berry, Kaira Clarehugh and Marie Pugh of Clarion Solicitors provided legal advice to Bike & Boot Inns on the corporate and banking aspects of the transaction.

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