Administrators put Cornish hotels up for sale

Two hotels and development land in Cornwall have been put up for sale by the administrators.

The hotels are worth an estimated £1.6m and no value has been put on the woodland which has planning permission for 25 holiday lodges.

The sales are being handled by property firm Christie and Co on behalf of administrators from financial firm CRG Insolvency and Financial Recovery.

Commonwood Manor Hotel has ten ensuite bedrooms and a swimming pool and is located in Looe. It has been valued at just over £1m.

The Rivercroft Hotel, which is also in Looe, has ten ensuite rooms and four apartments as well as a public bar and restaurant.

The property, which was originally a sea captain’s home, has been valued at £650,000.

The holiday lodge development site is also in Looe and has planning permission for holiday lodges.