New owner of Devon hotel planning to transform it into luxury waterfront venue
A coastal hotel overlooking Hope Cove near Salcombe, Devon, has been sold after more than 50 years of ownership by the Ireland family.
The Cottage Hotel was bought by Beach Barefoot Hospitality, the recently formed UK trading arm of an international hotelier in an off-market deal off a guide price of £8m.
Simon Stevens, of Simon Stevens Associates, said: “This outstanding hotel has a rich history and an impressive, long-standing reputation, making it highly attractive to the purchaser.”
The 45-bedroom hotel was sold with offers invited on a guide price of £8m for the freehold property and operating business.
The purchase also includes a staff house and two luxury apartments.
Beach Barefoot Hospitality plans to reposition the hotel as a luxury waterfront venue.
Jon Clyne, director of Charles Darrow, added: “Beach Barefoot Hospitality has very clear plans to capitalise on this superb setting for the luxury market, and we look forward to seeing that investment progress.”
The Ireland family has owned and operated the hotel since 1973 through their family business.
William Ireland, a director of J.K. & J. Ireland (Cottage Hotel), said: “We are proud of The Cottage Hotel’s remarkable reputation, cultivated over five decades of our continuous ownership.”
The hotel is set in around three acres overlooking Bigbury Bay with direct beach access.
It currently features a seasonal bistro, ice cream parlour and art studio.
Chris Field, head of hotels and hospitality at Sirius Finance, arranged funding for the purchase.
Minesh Patel, of Keystone Law, provided legal advice for Beach Barefoot Hospitality, while Matthew Cook, of Elevate Legal, represented the Ireland family.
