Snowdonia fishing attraction acquired by duo for nearly £800,000

BUSINESS partners Malcolm Higgins and Cristo Small have splashed out nearly £800,000 on the Snowdonia TY’ N Y Cornel Hotel and its 222-acre lake, famed for its fishing and once a venue for the Commonwealth Fly Fishing Championships.

The duo from Uxbridge, Greater London, acquired the 20-bedroom hotel in Snowdonia National Park from an asking price of £795,000 in a deal brokered by the specialist hotels and licensed property team at real estate advisers Colliers International.

Previous owners Robert and Sheila Davies acquired the property in 2013 and having undertaken an extensive refurbishment programme to four-star standard, decided to sell to focus on other hotel interests.
 
Malcolm and Cristo will undertake further refurbishment of the business – including restocking the lake with fish to restore the hotel’s reputation as a destination for anglers from North Wales and further afield – with a reopening planned for 2017.

TY’ N Y Cornel Hotel comprises three buildings – the main house, a converted boat house and a modern block – with en-suite bedrooms and superior rooms with balconies.

There is also a 40-cover restaurant and three-bedroom owners’ accommodation.

Neil Thomson, associate director, hotels and licensed property at the Manchester office of Colliers International, secured the sale and said: “In recent years North Wales has re-established itself as a major tourist destination, attracting visitors from around the world to its countryside, heritage, culture and new attractions such as Zip World and Surf Snowdonia.

“Lonely Planet recently voted the region as 4th best place in the world to visit, putting the area firmly back on the map, resulting in high levels of interest being shown by new buyers such as Malcom and Cristo seeking a change in lifestyle.

“The renewed popularity of the region is reflected in us having recently concluded several hotel sales including those of Abercelyn Country House, Bala, Caerwylan Hotel, Criccieth and The Wildings Hotel, Llandudno, all sold to first time operators.”